With Obama raising the stakes in the game of debt-ceiling brinkmanship–going so far, according to some reports, as to threaten to veto a small-scale stop-gap deal–Bruce Bartlett clarifies some important points in a piece about five debt-ceiling myths. I find it hard to believe that the president really would veto a small bargain, by the way. If he did actually say that, he was bluffing.
Bartlett’s link to Garrett Epps on the 14th Amendment is worth following. I wonder what Treasury lawyers are telling the president about the constitutionality of the debt ceiling.
Update: Here’s what Lawrence Tribe is telling him: the debt ceiling can’t be ignored.