You proved you tried to negotiate with the GOP. We see it. Now act like the leader we want you to be. Do a prime time news conference. Read the 14th Amendment. Explain that the Constitution forbids not paying the bills. People will understand that. Explain that you tried to reach an agreement, that you compromised perhaps too much and that the other side still would not budge from a position that would end in economic disaster. You have no choice. Eliminate the debt ceiling by executive order. If the GOP wants to object and run to the Supreme Court, let them. Section 4 of the 14th Amendment to the Constitution of the United States of America:
Section 4.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.
The 14th Amendment to the US Constitution was passed by Congress on June 13, 1866 during Reconstruction, thus the references to the Civil War.
The majority of Americans will be thankful the economic crisis is averted. The rabid reactionaries will foam at the mouth and continue to act crazy. It is time to fight back President Obama. Make us proud.
Executive Orders from Wikipedia:
U.S. Presidents have issued Executive Orders since 1789. Although there is no Constitutional provision or statute that explicitly permits Executive Orders, there is a vague grant of "executive power" given in Article II, Section 1, Clause 1 of the Constitution, and furthered by the declaration "take Care that the Laws be faithfully executed" made in Article II, Section 3, Clause 4. At the minimum, most Executive Orders use these Constitutional reasonings as the authorization allowing for their issuance to be justified as part of the President's sworn duties,[1] the intent being to help direct officers of the US Executive carry out their delegated duties as well as the normal operations of the Federal Government - the consequence of failing to comply possibly being the removal from office.
Seems clear to me that the debt ceiling can be wiped away by presidential decree. The 14th Amendment of the Constitution of the United States of American, Section 4 mandates the bills be paid.