Obama will single-handedly raise the debt ceiling without Congressional approval, thereby saving the system from collapse. At this point, he will become a dictator and everyone who disagrees with this will become a terrorist. His liberal fans will go wild. Congress will be superfluous at this point. This is how the Republic dies and the Empire begins.
"Failure to raise the debt will force the president to break a law — the only question is which one. The Constitution requires the president to spend what Congress has instructed him to spend, to raise only those taxes Congress has authorized him to impose and to borrow no more than Congress authorizes. If President Obama spends what the law orders him to spend and collects the taxes Congress has authorized him to collect, then he must borrow more than Congress has authorized him to borrow. If the debt ceiling is not raised, he will have to violate one of these constitutional imperatives. Which should he choose? Professors Neil H. Buchanan and Michael C. Dorf, who parsed the arguments in the Columbia Law Review in 2012, concluded that all options were bad, but that disregarding the debt ceiling was least bad from a legal standpoint. I agree."
http://www.nytimes.com/2013/09/30/opinion/obama-should-ignore-the-debt-ceiling.html
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