House Minority Leader Nancy Pelosi says President Barack Obama made a mistake in pledging not to raise the debt limit without congressional approval.
According to The Hill
, the California Democrat said Obama should have kept alive the option of increasing the ceiling unilaterally based on the 14th Amendment, which she insisted gives the president the power to increase the nation's borrowing authority without the consent of Congress.
"I think the 14th Amendment covers it," Pelosi told reporters Wednesday, The Hill noted. "The president and I have a disagreement in that regard, I guess."
South Carolina Rep. James Clyburn, the assistant Democratic leader, nodded in agreement as he stood beside Pelosi, according to The Hill.
Section 4 of the 14th amendment reads
: "The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."
The Treasury Department said Wednesday that the government will be on the verge of default by Oct. 17, The New York Times reported
Obama wants Congress to approve a debt limit increase without any conditions, but House Republicans want to add a range of policy prescriptions, including a one-year delay of Obamacare, to any bill that raises the debt ceiling.
Not Lifting Debt Ceiling Would Be 'Dumb,' Buffett Says
Republican Debt-Ceiling Strategy Relies on Obama's Budget
© 2014 Newsmax. All rights reserved.