Clinton Assures China on Debt-Ceiling

Secretary of State Hillary Clinton reassured China, the top holder of American Treasuries, that the U.S. will resolve its impasse over the debt ceiling and improve the country’s long-term fiscal outlook.

“Many have questions about how the United States is going to resolve our debt-ceiling challenge,” Clinton said today in Hong Kong. The “political wrangling” is part of democratic problem-solving, she said. “I am confident that Congress will secure a deal on the debt ceiling and work with President Obama to take steps to improve our long-term fiscal outlook.”

The top U.S. diplomat made the remarks as talks over the debt ceiling stalled again in Washington, sending the value of the U.S. dollar down and gold to record highs.

Bloomberg

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