As reported by the NY Times:

“[The Republicans] will not collect a ransom in exchange for not crashing the American economy,” Mr. Obama vowed in the East Room, a week before his second inauguration. “The financial well-being of the American people is not leverage to be used. The full faith and credit of the United States of America is not a bargaining chip.”

That’s the right position.  Let’s hope he has the backbone to not back down.

Minting the coin needs to be an option.