Added: Lawrence Tribe has an uncharacteristically decent op-ed, pointing out that the 14th Amendment argument is bunk. If he and I are on the same page on a question regarding the Constitution, that’s an excellent sign that the principle is well-settled and obvious:
Worse, the argument that the president may do whatever is necessary to avoid default has no logical stopping point. In theory, Congress could pay debts not only by borrowing more money, but also by exercising its powers to impose taxes, to coin money or to sell federal property. If the president could usurp the congressional power to borrow, what would stop him from taking over all these other powers, as well?
Posted by Apollo in We don't need no stinkin' Constitution