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. Howev
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
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
