Jack Balkin explains why Obama, unlike Bubba, won't invoke 14th Amendment powers on the debt ceiling:
Obama has not made the constitutional argument, and the reason, I believe, is that he doesn't actually want to make the political argument, and adopt Clinton's political strategy. It's worth noting that although the problem (and the threat by Republicans) was understood well in advance, Obama has not tried to nip the debt ceiling crisis in the bud by acting as Clinton said he would. Rather, Obama believes that he can turn what looks like a hostage situation into a opportunity to resolve concerns about government spending and to secure entitlement programs for many years to come. This might be a wise strategy or a foolish strategy given his political opponents. Nevertheless, it appears to be what he is doing. Therefore, it's important to understand that Presidents make (or do not make) constitutional arguments both for legal reasons and for political reasons. This explains why Clinton's approach is very different from Obama's.
Then there's the relative severity of our current debt crisis – thanks largely to Bush and the recession. I desperately want Obama to pull this off in a big way. Defusing the debt problem is not just good politics; it's responsible politics. It's what Obama was elected for.
The Dish 