We believe that it is very important that we have hopefully averted what would have been the most substantial headwind of all, which is a default for the first time in our history, and that that will contribute to a more positive environment that we hope will allow for greater growth and job creation.

Summary

This quote suggests that preventing a default (on debt) has been crucial to avoiding a major obstacle that could have hindered economic progress. By avoiding default, the quote argues that it will create a more favorable atmosphere for economic growth and the creation of new jobs. The emphasis here is on the significance of averting a default, as it is seen as a key factor in ensuring a positive environment for financial development.

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