White House Rules Out Constitutional Option On Debt Ceiling: Report

Also keep in mind that even should taxes be raised in exchange for cutting Social Security and Medicare, those new taxes could be subject to tax cuts in future Congresses and Social Security and Medicare will be destroyed.

The ratio, by the way, of what Obama's negotiatin­g is 5 cuts of social programs to 1 raise of taxes on the rich.
About Debt Ceiling
Read the Article at HuffingtonPost