Former U.S. Secretary of State Hillary Clinton has warned that the U.S. defaulting on its debt obligations could lead to a global financial meltdown. “If Congress keeps flirting with default, calls for dethroning the dollar as the world’s reserve currency will grow much louder,” she stressed.
Hillary Clinton on U.S. Debt Default and Dollar Losing World’s Reserve Currency Status
Hillary Clinton, a former first lady and the U.S. Secretary of State from 2009 to 2013, warned in an opinion piece, published by the New York Times Monday, about the disastrous outcomes that could result from the U.S. defaulting on its debt obligations, including the risk of the dollar losing its status as the world’s reserve currency.
“The debt ceiling debate is not about authorizing new spending. It’s about Congress paying debts it has already incurred. Refusing to pay would be like skipping out on your mortgage, except with global consequences,” Clinton described, warning:
Because of the centr
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