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Day 848

1/ Biden said he is “confident” the U.S. will avert a default as negotiations over raising the debt limit continue. “It would be catastrophic for the American economy and the American people if we didn’t pay our bills,” Biden said. “I’m confident everyone in the room agreed […] that we’re going to come together because there’s no alternative. We have to do the right thing for the country. We have to move on.” Republicans want to cut federal spending before lifting the debt limit, while Biden and the Democrats insist that raising the debt ceiling is nonnegotiable. Separately, House Democrats have started collecting signatures for a discharge petition that could circumvent House Republican leadership and force a vote to increase the debt limit should negotiations collapse. A discharge petition requires 218 or more members sign it on. A group of Senate Democrats, meanwhile, started circulating a letter urging Biden to invoke the 14th Amendment to unilaterally lift the debt ceiling without involving Congress. The draft letter reminds Biden that the 14th Amendment says “the validity of the public debt, authorized by law […] shall not be questioned.” They add that “using this authority would allow the United States to continue to pay its bills on-time, without delay, preventing a global economic catastrophe.” (Associated Press / New York Times / ABC News / Bloomberg / Wall Street Journal / New York Times / Washington Post / NBC News)

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