The problem with a game of chicken is that eventually everyone loses. This is why having that kind of debt limit is a mistake: the only thing it does is allow

The problem with a game of chicken is that eventually everyone loses. This is why having that kind of debt limit is a mistake: the only thing it does is allow one party to unilaterally force the other into games of chicken. I'm by no means opposed to taking steps to reduce the deficit, but the debt limit has had the above undesirable effect while simultaneously failing to actually reduce anything.