Go ahead, Mr. President, make our day

Assuming the the republic gets through the continuing resolution battle by then, the next showdown, raising the debt limit ceiling, on October 17 should tax the sanity of about everyone in Washington except for former Speaker Nancy Pelosi whose sanity has already been both taxed and spent. The gentle lady from San Francisco has picked up on a theme we heard the last time the debt limit was raised. Pelosi argues that the president, at least this president, has the power to raise the debt limit unilaterally. Sure he does, Nan, and after you get through teaching canon law to the college of cardinals you might bring this question up at your next Mensa Club meeting. The argument runs that a clause in the 14th amendment that states,

“The validity of the public debt of the United States, authorized by law, including debts incurred for payments of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.”

gives the president the power to decide the debt level of the nation. If that's the way it is then have at it but first ask yourself who is going to buy the bonds that the congress has not authorized. Full faith and credit still has meaning in the bond market and even a unanimous decision by the Supreme Court that Obama has such power won't sell bonds at a rate the country can afford. Without the full faith and credit of the government investors can expect to be treated as magnanimously as the holders of FHA backed mortgages were in the 2009 meltdown. A simple resolution by the House that it had no intention of honoring the debt would overcome that bit of executive over reach.
Lately the President has indulged in a bit of chest thumping truculence that he will not negotiate on the debt ceiling. Democratic hacks both in and out of government have taken to calling the conservative wing of the Republican Party-the real conservative wing, the Tea Party- extortionists, arsonists, anarchists, and racists but the public is clearly behind the aforementioned extortionist, arsonists, anarchists, and racists by a margin of more than two to one-61% to 28%. And Obama won't negotiate? Being a lame duck has its advantages but for the rest of the Democrat Party ignoring the will of the voters carries career-ending risks. Go ahead, Mr. President, make our day. Listen to Nancy.