Default, get ready for it
This would be much worse than the government shut down in 1995, and far more unpopular. It would be radioactive. It is our job to keep reminding people that it is entirely unnecessary, one little platinum coin has the power to make this all go away.
If social security checks don't go out, rent will to unpaid, small landlords will be bankrupt, and the economic ruin will roll across our economy like a brush fire whipped by the wind.
And it is completely unnecessary. Obama has an option. He is doing this because he wants to.
A power structure that is not capable of ordering its finances is a text book symptom of a collapsing regime.