In a crucial development President Joe Biden has decided against attempting to invoke the 14th Amendment as a measure to prevent the U.S. from defaulting on its debt obligations, even in the absence of an agreement with House Republicans on raising the debt ceiling.

This information, which is sure to crush left wing dreams, comes from a statement made by Deputy Treasury Secretary Wally Adeyemo on Friday.

In the face of difficult negotiations with House Speaker Kevin McCarthy regarding a potential increase in the debt limit, Biden had publicly contemplated the option of invoking Section 4 of the 14th Amendment, which stipulates that “The validity of the public debt of the United States, authorized by law…shall not be questioned.”

This move would have allowed the President to unilaterally pay U.S. creditors without requiring congressional authorization.

However, this idea was met with opposition from both Republicans and some Democrats, leading to Biden’s decision not to pursue this course of action.

On the topic of invoking the 14th Amendment, Deputy Treasury Secretary Wally Adeyemo stated, “I think the president and secretary are clear that that will not solve our problems now. So, yes, that is a no.”

Adeyemo, during his appearance on CNN, elaborated that the 14th Amendment wouldn’t provide a solution to the current challenges. “Ultimately, the only thing that can do that is Congress,” he added.

Despite the President’s decision, several Senate Democrats had sent a letter to Biden encouraging him to “prepare to exercise your authority under the 14th Amendment…preventing a global economic catastrophe.”

This sentiment was echoed by many House Democrats, including Alexandria Ocasio-Cortez of New York.

However, their pleas were met with criticism from Republicans and legal experts, who warned of severe consequences for Biden if he pursued this course.

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Among the most vocal supporters of invoking the 14th Amendment to avoid a default on the U.S. debt, a situation experts suggest would have devastating consequences for the world economy due to global investor confidence in U.S. Treasury Bonds, was Laurence Tribe, a constitutional law scholar and Harvard Law School professor.

In an essay penned for the New York Times, Tribe argued, “Congress — after passing the spending bills that created these debts in the first place — [cannot] invoke an arbitrary dollar limit to force the president and his administration to do its bidding.”

In contrast, Andrew McCarthy of National Review Institute opined that “any debt [Biden] issued based on this deeply flawed interpretation of the amendment would be worthless.”

Jonathan Turley, a law professor at George Washington University, concurred, suggesting that such a move would “reduce the separation of powers doctrine to junk bond status.”

Prominent Republican leaders also expressed their disapproval. Senate Minority Leader Mitch McConnell warned Biden that invoking the 14th Amendment was “not an option,” while Rep. Lauren Boebert of Colorado emphasized that “Congress—not the President—has the power to enforce Section 4.”

Some Democrats shared this sentiment, including Treasury Secretary Janet Yellen, who cautioned that invoking the 14th Amendment in this context could precipitate a “constitutional crisis.”

As the situation stands, Biden and McCarthy continue their negotiations, with House Republicans refusing to approve any measure that doesn’t include significant cuts to public spending and other policy stipulations.

The House Freedom Caucus has indicated that they will not endorse a deal lacking several concessions, leaving McCarthy in need of their support to maintain unity among House Republicans.

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