What was the credit default risk in 2011?
Republicans recently took over the House of Representatives and are looking to use that power to pile pressure on a Democratic President, still in his first term in office, who passed a spending bill. budget in the previous year. Sound familiar?
Not only is this the situation Washington has now, but it was also the situation for the 2011 debt crisis. The United States came closer to defaulting on its debt than it had in years, before making an agreement. There are concerns that, now, with the growing partisanship of Congress, the tensions may increase.