The House of Representatives has already passed a bill (Cut, Cap and Balance) to allow raising the debt ceiling, which the Democrats blocked in the Senate – and Obama had already announced that even if it passed the Senate, he would veto it.
This means that the Democrats had in hand the means to avert this alleged catastrophe a week or so ago, and rejected it purely because of their ideology. They have continued to reject every move of the House to solve this problem since.
Remember, the Democrats have had several opportunities to pass a bill that would raise the debt ceiling. It’s like a man dying of thirst in Death Valley, turning his nose up at a glass of ice water – because he doesn’t like the glass.
As far as I am concerned, if the debt ceiling does not get raised, Obama and his Democrats are responsible for any and all repercussions, whatever they may be.