It's Klein over Krugman by a nose. The Obama administration has cross-filed the gimmickry of the platinum coin idea under G for "grotesque," along with all other flanking maneuvers against a debt-ceiling collapse; and now the White House says simply that "Congress can pay its bills or they can fail to act and put the nation into default."
In short, it'll be business as usual or the apocalypse, because, observes Klein:
There was also the simple fact that [a Fed-deposited, $1-trillion-dollar trinket] would, indeed, represent an admission that the government’s executive and legislative branches could no longer be trusted to come together and effectively manage the country’s finances.
Which is profoundly true, as well as profoundly paradoxical. For President Obama's unequivocal non-negotiating stance itself represents an admission that the government's executive and legislative branches can no longer be trusted to come together and effectively manage the country's finances. United States presidents have historically refused to negotiate with warring enemies of the state--say, FDR's "unconditional surrender" demand of the Axis Powers, or Lincoln's repulsion of a "deal" with the treasonous South--but I cannot recollect a single instance of a U.S. president declaring that under no circumstances would the executive branch "come together" with Congress to "effectively manage" a global-calamity-averting, fiscal reprieve.
Which gives you some calibrated, comparative idea of just how singularly reckless and openly belligerent this domestic, anti-American threat of a Republican-infested Congress has become.