The 14th Amendment option some idiots float from time to time won't work. At most it could be used to justify Obama giving priority on using available funds to make interest payments on the debt. It emphatically does not allow Obama to incur more debt than the debt ceiling allows him to.
Since the government does take in more revenue than is needed to pay the interest, all the debt ceiling would do is cause a partial government shutdown, which while messy politically and economically does not require ripping up the Constitution to deal with.
Both Pelosi and Reid have now advocated that Obama use the 14th Amendment.
