Sort of. Congress has set up conflicting laws. It has already passed legislation that results in spending, and it has erected a debt limit. When the mandated spending exceeds the mandated debt limit, one or the other has to give. Since Congress created both, it's really up to Congress to choose which has priority.
But, the one thing that Congress does not want is accountability, so it is blaming the president for the spending, and now, it aims to make the president accountable for the debt limit.
At any rate, it's Congress that is out of control.
Obama and his cohorts are out of control.