House Minority Leader Nancy Pelosi said she favors a strategy that would let President Barack Obama raise the nation's debt-ceiling without Congressional approval by declaring a limit unconstitutional.
"I've made my view very clear on that subject: I would do it in a second," Pelosi said at a press conference Friday, The Hill reports. "But I'm not the president of the United States."
Obama has already rejected the idea, questioning the legality of invoking the 14th amendment, which states the "the validity of the public debt ... shall not be questioned."
Republican leaders have said an increase in the debt ceiling must be accompanied by big spending cuts to offset costs. The nation is up against the $16.4 trillion debt ceiling. The Treasury Department has said it will take "extraordinary measures" to continue borrowing - and therefore paying its obligations - until roughly March, when Congress will have to step in to raise the cap.
Senate Minority Leader Mitch McConnell said Sunday that new taxes are off the table in the upcoming fiscal debate. Pelosi has disagreed, saying examining loopholes and deductions could be a way to raise new revenue, the Washington Post reports.
Via The Hill and the Washington Post