Constitutional crisis
likely to follow default

China’s Deputy Finance Minister Zhu Guangyao warned the US on Monday. Click image to enlarge.
AS THE UNITED STATES stumbles through the government shutdown towards the debt-ceiling crisis, its potential catastrophic effects are already causing ripples – political and economic – around the globe.
And warnings have already started to appear that if the House Republicans allow the country to go over this cliff, another worse crisis would be upon us almost immediately.
That would be a constitutional crisis, as expertly outlined by a professor of history in The New York Times on Tuesday.
The president could invoke emergency powers under the 14th Amendment – and the GOP in the House, like they did in the Clinton years, might decide to impeach him.
The future is looking more perilous by the minute.
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