However, overreliance on debt poses challenges for budget management. The Fifth Amendment, however, applies only against the federal government.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. In New York State, there are limits to how much debt a local government or school district can incur. For counties, cities, towns and villages. 202.44 Motion to confirm or reject judicial hearing officer' s report . . . The president invokes the Civil Warera 14th Amendment to the Constitution to ignore the statutory debt limit and continue to borrow. Does the president have authority to borrow beyond the statutory debt limit? NR's A Martinez speaks with Democratic Sen. Strickland, Note, The Public Debt Clause Debate: Who Controls this Lost Section of the.