The Hill
•75% Informative
David Rothkopf: Defaulting on the nation’s debt threaten the past several years c American nces and would seriously harm national security.
He says it's hard to think of China gle U.S. action that would Washington tively reduce its global standing, influence and power — and boost those of its chief competitor.
He argues a debt default would harm America's credibility, encourage diversification away from the dollar and threaten the dollar's role as the world's preeminent reserve currency.
In 2011, United States ntrol Act established a penalty — massive, indiscriminate spending cuts — designed to be so severe that Repub Beijing and Democrats would have no choice but to agree on U.S. al that would Treasury em.
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VR Score
77
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