If the negotiations with the Republicans fail, the possible step that President Obama can take is to let the Judiciary Branch of the government to make judgement whether to raise the debt ceiling or not.
IMO, the Judiciary will eventually decide that the debt ceiling should be raised. However, it will order Congress to do so to comply with the US Constitution. In the meantime, the stock market will fall and the world economy will be reeling until the final solution to the problem is resolved. ---In fairfieldlife@yahoogroups.com, <jr_esq@...> wrote: Judge Napolitano offers the conservative viewpoint as follows: http://www.youtube.com/watch?v=b8ApJlSIhHU&list=HL1381357068 http://www.youtube.com/watch?v=b8ApJlSIhHU&list=HL1381357068 But if you follow the reasoning he's making, the economy will collapse since the US has a national debt of about $16 trillion. Clearly, the US does not have that money to pay this debt without borrowing money to pay for the government expenditures. ---In fairfieldlife@yahoogroups.com, <jr_esq@...> wrote: Nancy Pelosi thinks the President can raise the limit himself given the circumstances that the US is in now. http://www.huffingtonpost.com/2013/09/25/nancy-pelosi-14th-amendment-debt_n_3991148.html http://www.huffingtonpost.com/2013/09/25/nancy-pelosi-14th-amendment-debt_n_3991148.html But it appears that Obama will not take this road to fix the problem. ---In FairfieldLife@yahoogroups.com, <fairfieldlife@yahoogroups.com> wrote: An argument can be made that the Tea Party instigators of the crisis are in violation of the 14th Amendment and are betraying the Constitution. As such, Congress may have to pass another law to prevent the tactics being employed by the Tea Party members from being used again in the future. http://finance.fortune.cnn.com/2013/10/07/why-the-14th-amendment-matters-in-the-debt-ceiling-crisis/ http://finance.fortune.cnn.com/2013/10/07/why-the-14th-amendment-matters-in-the-debt-ceiling-crisis/
