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Obama and the GOP's Risky Gamesmanship Over Debt Ceiling Could Spur Another Credit Crisis

The U.S. is officially overdrawn on its $14 trillion debt limit, but Republicans and Obama are still playing politics with the serious issue of default. Beltway myopia and overheated rhetoric could trigger another worldwide credit crisis, warns Zachary Karabell.

articles/2011/05/17/obama-and-the-gops-risky-gamesmanship-over-debt-ceiling-could-spur-another-credit-crisis/karabell-debt-ceiling_181010_e4uzma
Rep. Steve Scalise (R-LA), left, introduced a "Cap the Debt" act back in 2009. (Chip Somodevilla / Getty Images)

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