China warns U.S. debt-default idea is “playing with fire”
By Emily Kaiser – Wed Jun 8, 8:41 pm ET
“SINGAPORE (Reuters) – Republican lawmakers are “playing with fire” by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China’s central bank said on Wednesday.”
“If the United States cannot make interest payments on its debt, the Obama administration has warned of “catastrophic” consequences that could push the still-fragile economy back into recession.”
Yeah, and they still won’t repay the principal. Interest is nothing, really.
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