Rep. Don Beyer

@RepDonBeyer ↗

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Last Checked March 28, 2023

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Thu Mar 09 15:44:17 +0000 2023

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Rep. Don Beyer @RepDonBeyer

Vital securities underpinning the entire global financial system are pegged to American Treasury bonds. The global financial system is literally built on the full faith and credit of the United States government, on the fact that we are good for our debts and pay on time. — PolitiTweet.org

Posted March 9, 2023

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Rep. Don Beyer @RepDonBeyer

And most importantly, economic. If we breach the debt limit and the Republican law causes Chinese bondholders to get paid while American schools and hospitals don't, that is a default on our debt! The United States owes money it promised to pay, and it didn't make the payment. — PolitiTweet.org

Posted March 9, 2023

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Rep. Don Beyer @RepDonBeyer

The perception that American bonds are the safest investment underpins the global economy. If we fail to pay what we owe, it won't matter if it was a bond holder or our troops: it will demonstrate that we aren't good for our debts, and investors *will* react to that information. — PolitiTweet.org

Posted March 9, 2023