(...) it looks quite possible that
default would create a huge financial crisis, dwarfing the crisis set
off by the failure of Lehman Brothers five years ago.
No sane political system would run
this kind of risk. But we don’t have a sane political system; we
have a system in which a substantial number of Republicans believe
that they can force President Obama to cancel health reform by
threatening a government shutdown, a debt default, or both
(...).
Paul Krugman
