Obams can at any time invoke the 14th Amendment! Do you think he should?
Section 4 of the 14th Amendment states: “The validity of the public debt of the United States, authorized by law, including debts incurred for payments of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.” Essentially, Democrats are arguing that since the "public debt" cannot be questioned, then the debt ceiling itself is unconstitutional.
http://www.huffingtonpost.com/2011/07/27/house-democratic-leaders-urge-obama-to-use-14th-amendment_n_910878.html?ref=fb&src=sp#sb=996223,b=facebook
http://www.huffingtonpost.com/2011/07/27/house-democratic-leaders-urge-obama-to-use-14th-amendment_n_910878.html?ref=fb&src=sp#sb=996223,b=facebook