Letters from and to Sen. Clinton

"When it comes to the fiscal recklessness and economic fatalism of the current administration, the writing might not be on the wall but yesterday the writing was on the Big Board. The economic policies of the last six years have contributed to an erosion of US economic sovereignty and have made us more dependent on the economic decisions of other nations”- Senator Clinton

Mankiw quoted the following from Senator Clinton’s letter to the Fed Chairman and Treasury Secretary;

we can too easily be held hostage to the economic decisions being made in Beijing, Shanghai and Tokyo.

Don Boudreaux writes an open letter to Senator Clinton,

In fact, foreign-government holdings of U.S. debt arguably make these governments "hostage to the economic decisions being made in Washington." The Fed, after all, could monetize this debt, inflating away its value. Or Uncle Sam could repudiate this debt, or unilaterally change its terms in ways unfavorable to holders. Or you and your colleagues could implement economically disastrous policies that drive up long-term interest rates and, hence, drive down the value of outstanding treasuries.

Related Letter; Mankiw’s resignation letter from CEA;

“Your leadership has preserved and strengthened the American dream by guiding the economy through difficult times and by laying the foundation for a growing and expanding prosperity. You appreciate the power of economic liberty and have worked to create an environment where all Americans can realize the potential with which their creator has endowed them. You understand that the free enterprise system works best with under a policy of low taxes, fiscal discipline and open markets.”