Published on Oct 18, 2013
The federal government reopened Thursday, as the country narrowly avoided defaulting on its debts, which could have led to a global financial meltdown. Yet, instead of focusing on the financial and global consequences of congressional inaction, politicians in Washington seemed more concerned with furthering their political agendas. Earlier in the week, President Barack Obama said he hoped that Congress wouldn't take a crisis-driven approach in the future, such as when the continuing resolution and the debt ceiling deals run out in early 2014. RT's Ameera David talks to Richard Wolff, professor of economics emeritus at UMass-Amherst, about how governing by crisis and brinkmanship is having a negative effect on the US economy.