Jonathan Bernstein mulls Obama's debt ceiling options:
At some point, Barack Obama will, if Congress does not act, be faced with an impossible choice. He will have clear, conflicting imperatives. Congress will have obligated him to spend money; not spending money that Congress has appropriated is an impeachable offense. The government will also be obligated to make good payments on current debts; he's clearly required to do that, as well. However he also will will be without money to do those things, not have the authority to borrow any more, thanks to the debt limit. So he will have to choose to have the government violate one of those legally binding commitments.
In response to the platinum coin debate, Kleiman asks:
[I]f we imagine a situation where the Congress doesn’t lift the debt limit, and the President has to choose between the Coin and default, would default really be the better option? If default is preferred, on what principle should the President choose which bills to pay and which to refuse to pay? And by what authority would he make that choice? If you’re sworn to execute the laws, and your choice is between the Coin and not executing some of the laws, aren’t you pretty much stuck with the Coin?
Josh Barro continues to insist that the coin is the least bad option.
The Dish 