It is playing chicken, and we don't think that that's what congressional leaders meant when they reassured the President and they reassured the public that the debtceiling would be raised.
First, a debtceiling never actually restrains growth in the publicdebt or spending, and since it only appears to do so, it misleads citizens into believing institutional fiscal restraints exist.
How American voters will react to deep cuts to federal programs meant to stimulate the economy and decrease unemployment in 2012 is as unpredictable as the brinksmanship the public has just endured over the debtceiling.