The Philadelphia Inquirer PhillyDeals column.(Column)

Byline: Joseph N. DiStefano

July 13--What if President Obama can't cut a deal? Before an Aug. 2 deadline for getting Congress to boost the government's borrowing power above the current $14 trillion, Republican leaders are holding out for deeper budget cuts and no new taxes. Obama says the Republicans would cut too deeply, stalling the economy, as 25 million are already jobless or working part time. Just what happens if August brings no deal? Some possibilities: The federal government will likely keep paying interest on $13 trillion it owes investors from here to China. "The risk of not paying would turn the U.S. into Argentina," where interest rates spiked when the …