Declaration of a State of Emergency -- can President Obama issue one to prevent default?

[Samantha]

32. I covered that in the thread

"The National Emergencies Act requires the president to specify the provisions in the law upon which his actions under each declaration are authorized." The answer to which provision he relies upon could but must not necessarily, rest with whatever current Declaration he links to, so there are several options. Just as an example, if he links to the Declaration Bush declared in response to 9/11:

"Last year, President Obama extended the National Emergency with respect to terrorism that President Bush signed after the devastating attacks on America by al-Qaeda on September 11, 2001. In his notice to Congress, President Obama wrote:

CONTINUATION OF THE NATIONAL EMERGENCY WITH RESPECT TO PERSONS WHO COMMIT, THREATEN TO COMMIT, OR SUPPORT TERRORISM"

On September 23, 2001, by Executive Order 13224, the President declared a national emergency with respect to persons who commit, threaten to commit, or support terrorism, pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701-1706). The President took this action to deal with the unusual and extraordinary threat to the national security, foreign policy, and economy of the United States constituted by the grave acts of terrorism and threats of terrorism committed by foreign terrorists, including the terrorist attacks on September 11, 2001, in New York and Pennsylvania and against the Pentagon, and the continuing and immediate threat of further attacks against United States nationals or the United States. Because the actions of these persons who commit, threaten to commit, or support terrorism continue to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States... I am continuing for 1 year the national emergency[.] (emphasis added)

The date the president signed and issued this notice warning of the "immediate threat of further attacks"? September 11, 2012, the very day of the attack on the consulate in Benghazi, Libya."

So continuing along with a hypothetical, if he linked to this declaration already in existence he could quote the same provision Bush* quoted. Additionally, in order to execute his Commander in Chief responsibilities, he must have the resources to execute those duties.

There are a number of things he could do and obviously I cannot predict which he would choose and on what basis he would rest.

Sam