White House Rejects 14th Amendment to Raise Debt Ceiling

President Barack Obama has neither the legal authority nor the practical ability to bypass Congress and extend the nation’s borrowing limit, and attempting such a step might trigger turmoil in the markets, two top White House advisers said.

National Economic Council Director Gene Sperling and Obama adviser Dan Pfeiffer were responding to some congressional Democrats who urged Obama to extend the federal debt ceiling without congressional authorization under the 14th Amendment to the U.S. Constitution.