Speaker of the House Kevin McCarthy PHOTO: Facebook The United States reaps major economic benefits from its status as the world’s dominant reserve currency, including lower interest rates on its debt. Maintaining this advantageous position in the global economy—one which is under increasing challenge by China and Brazil, among others– depends on the full, faith and credit of the United States continuing to stand for a firm and unwavering guarantee of repayment.
Yet, House Republicans are once again engaging in dangerous brinksmanship on the debt limit, essentially threatening default unless the Biden Administration makes significant policy concessions. The legislation […]
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