The president says he is willing to discuss possible deficit savings, but without the threat of the federal government being unable to pay its bills. Does the president have authority to borrow beyond the statutory debt limit?Speaker Kevin McCarthy (RCA) is threatening to force the United States to default on its debts unless President Joe Biden agrees to draconian spending cuts. Speaker Kevin McCarthy (RCA) is threatening to force the United States to default on its debts unless President Joe Biden agrees to draconian spending cuts. It's not surprising to see Democrats push the 14th Amendment as a solution to the debt ceiling crisis. The House and Senate have passed a bill to raise the debt ceiling until 2025. The President will sign the bipartisan measure. Several liberal lawmakers in both chambers are pushing him to invoke the amendment rather than give in to Republican demands. With negotiations over the debt ceiling stalling, some lawmakers are pushing President Biden to invoke the 14th Amendment.