Democrats’ Magical Thinking Won’t Reduce Deficit: Ramesh Ponnuru

July 12 (Bloomberg) -- In a sign of Washington’s increasingdesperation over the debt-limit impasse, some Democrats areadvancing the breathtaking argument that the limit itself isunconstitutional.

These journalists, academics and politicians say ifCongress fails to increase the debt ceiling, President BarackObama should invoke the 14th Amendment to carry on borrowingjust as though Congress had increased it.