09/27/2012 08:44 am ET Updated Nov 27, 2012

Simon Johnson: 'Fiscal Extremism' Will 'Destabilize The World'

It is axiomatic among most of our Washington elite that the United States cannot lose its pre-eminent global role, at least not in the foreseeable future. This assumption is implicit in all our economic policy discussions, including how politicians on both sides regard the leading international role of the United States dollar. In this view, the United States is likely to remain the world's financial safe haven for international investors, irrespective of what we say and do.

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