There is a lot of interpretation involved. Lawyers will argue either side of that case (No surprise there, eh! 
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However in reading the article, I see no way that the government or any part of it can just decide unilaterally decide to not pay our debts on time and in full. I would think that any President who did not pay the debts made by the US Congress would be very likely to be impeached and found guilty.
Carrying the argument to an extreme, just to gain some clarity, If the US Congress votes to spend a billion dollars on building a grand museum in Kansas dedicated to the wonders of guano, and the President decided on his own to just not do it, then wouldn't the President be in danger of impeachment?
Or, lets say that there really isn't enough money, and either checks bounce or we don't pay 40% of our obligations. Who gets to decide which 40% gets shut out? What would there be to stop the President from saying "OK, any money going to zip codes in the districts of Republican Congressmen gets marked "Hold" and we pay everyone else. Any money left over, if any, gets doled out to Republican districts later on."
How would you react if that scenario was laid on you?
