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. The measure would cut back an expansion of the IRS and approve permits for a gas pipeline in West Virginia.The treasury secretary warned of possible "calamity" unless Congress acts. Does the president have authority to borrow beyond the statutory debt limit? Some Senate Democrats are circulating a letter urging President Joe Biden to prepare to invoke the 14th Amendment to lift the debt ceiling. Some Senate Democrats are circulating a letter urging President Joe Biden to prepare to invoke the 14th Amendment to lift the debt ceiling. NR's A Martinez speaks with Democratic Sen. So far, neither President Joe Biden nor House Speaker Kevin McCarthy, RCalif. , is giving ground ahead of debt ceiling talks. Strickland, Note, The Public Debt Clause Debate: Who Controls this Lost Section of the.