(TheLastPatriotNews.com) – Twice-failed Democrat presidential candidate Hillary Clinton has intervened in the debate on raising the debt ceiling by accusing the Republican Party of weaponizing the issue.
In an opinion article for The New York Times, Clinton placed any blame on a potential failure to raise America’s borrowing limit on the GOP majority in the US House of Representatives.
The US government reached the existing debt ceiling of $31.4 trillion in January and could default sometime in the summer unless Congress ups the limit.
While President Joe Biden and the Democrats are demanding an unconditional borrowing limit increase, the Republicans are insisting on budget cuts to tame annual budget deficits and the national debt.
In her NYT article, Clinton insisted a “failure” of House Republicans to raise the ceiling would give ample food to China and Russia’s anti-American propaganda as their regimes would claim that “American democracy is in terminal decline and can’t be trusted.”
“Republicans should stop holding America’s credit hostage, shoulder their responsibilities as leaders and raise the debt ceiling,” the former US Secretary of State urged.
“If Congress keeps flirting with default, calls for dethroning the dollar as the world’s reserve currency will grow much louder — and not just in Beijing and Moscow. Countries all over the world will start hedging their bets,” she stated.
Clinton accused House Speaker Kevin McCarthy (R-CA) and other senior GOP figures of trying to play tough on Communist China while “sabotaging” the national finances of the United States.
“It’s a sad irony that [McCarthy] and many of the same congressional Republicans seemingly intent on sabotaging America’s global leadership by refusing to pay our debts are also positioning themselves as tougher-than-thou China hawks,” she declared.
“They talk a good game about standing up to Beijing, yet they are handing a major win to the Chinese Communist Party,” the former First Lady insisted.
She accused the GOP of double standards driven by worsening partisanship.
“Republicans in Congress have consistently voted to raise the debt ceiling with little drama when a fellow Republican is in the White House — including three times under President Donald Trump… During Democratic administrations, they have weaponized the debt ceiling to extort concessions, despite the danger of default,” Clinton wrote.
She recalled that during the Obama years, in 2011 and 2013, raising the debt ceiling came close to a “fiscal abyss,” and even when compromise deals were reached, that still hurt consumer and business confidence and the US government’s credit rating.
“Today the competition between democracies and autocracies has grown more intense. And by undermining America’s credibility and the pre-eminence of the dollar, the fight over the debt ceiling plays right into the hands of Xi Jinping of China and Vladimir Putin of Russia,” Clinton argued.
“America’s credibility will help determine whether nervous Europeans continue to stand with us and support Ukraine or seek an accommodation with an emboldened Russia. It could determine whether more Asian nations welcome American military bases and troops to deter Chinese aggression… or buckle to Beijing’s bullying,” the Democrat heavyweight elaborated.
“Playing games with the debt ceiling imperils the dollar’s pre-eminent position in the global economy and the power that gives the United States,” Clinton concluded.
What is your reaction to Hillary Clinton injecting herself into the debt ceiling debate? Share your thoughts by emailing [email protected]. Thank you!
Hillary Clinton has warned that failure by the GOP-majority House to raise the national debt ceiling will open the door for China and Russia to rev up its attacks that “American democracy is in terminal decline and can’t be trusted.” https://t.co/evLO44TMbC
— NEWSMAX (@NEWSMAX) April 24, 2023