Obama has options if debt-limit deadlock isn't broken

07/27/2011 | Reuters

The U.S. Treasury Department plans to release in the next few days a contingency plan for running the government should the debt limit not be raised by Tuesday. Legal scholars said the 14th Amendment states that public debt "shall not be questioned," giving the president authority to ignore any debt limit established by Congress. Obama said he doesn't see that as a practical solution to the standoff.

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