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Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.

Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.

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October 14th, 2013
06:04 PM ET

Orszag's warning against the threat of default: "We're playing Russian roulette"

The drama over the debt ceiling and the government shutdown will hurt the U.S. economy even after (and if) Congress reaches a deal, warns former director of the Office of Management and Budget Peter Orszag.

How did we get here? Orszag describes how the deep partisan divide in U.S. politics has lead to leaders with wildly different ideas of how the U.S. economy should function.

The debt ceiling debate is just the latest arena where we have seen this dynamic play out, says Orszag.

"The middle in Congress is gone," claims Orszag – describing that in the past, deals like the debt ceiling were ironed out by politicians on the left and right who found common ground.

"It's just much harder to find agreements on things when you've got two adamantly opposed, much different perspectives on the world."

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