What's Obama's strategy in talking up the damage from default?

So why are Obama & Co. using the “D word” so obsessively? Here’s two possibilities:

One: They really mean it. Obama would rather stiff bondholders than cut the size of government. I find that hard to believe, even though he’s devoted his years in office to expanding government so dramatically.

Two: Obama’s crew loves chaos. Remember: These guys rode to victory in 2008 largely because of the financial collapse — and won with promises to lead a moderate economic course that put Americans back to work.

We’ve gotten the stimulus, the car-company takeovers, ObamaCare, tons of regulation and vows to hike taxes on “millionaires” who make $250,000 — and an economy that’s nowhere close to taking off.

But the political formula might work. This president knows how to play the blame game — and how to look moderate while he’s doing it.