General Discussion
In reply to the discussion: TREASON [View all]Jack Rabbit
(45,984 posts)Having one makes it something like Jefferson's view of the electoral college: Useless when it does its job and dangerous when it does not.
Most parliamentary democracies don't have a debt ceiling. I'll bet it's because some wise statesman saw the possibility of this happening in his own country.
Since this isn't a parliamentary democracy, the President could invoke the 14th Amendment and raise the debt ceiling by executive order (which I personally don't believe he has the power to do). Certainly some teabagger from congress will seek an injuction in federal court against the President and refuse to give one, opening up court hearings on the issue while the government continues to pay its bills. By the time they rule the President's actions unconstitutional, cooler heads will have prevailed and the case will be moot. Better yet, by that time the GOP will be extinct.