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BREAKING NEWS: Secretary Clinton on the Debt Crisis

Euronews: ….in Hong Kong US Secretary of State Hillary Clinton sought to reassure Asian investors.

“I am confident that Congress will do the right thing and secure a deal on the debt ceiling, and work with President Obama to take the steps necessary to improve our long-term fiscal outlook. We in the United States are in the middle of a necessary transition. We must save more and spend less … we must borrow less as well,” Clinton said. “Our partners must meet this change with changes of their own.”

It is not clear how much comfort the Chinese government and other Asian countries took from Hillary Clinton’s reassurances.

US officials said China was concerned about the US debt impasse and had repeatedly urged Washington to get its economic house in order.

“They’ve basically said that they’ve made a substantial investment in the United States and that they expect — not hope, expect — the United States will abide by its various financial and international commitments. Full stop,” one US official said.


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