Janet Yellen Treasury Secretary Janet Yellen said that a “historic financial crisis” may be triggered if Congress fails to raise the federal debt limit.
Two years ago, Congress suspended the debt ceiling — a measure that stops the federal government from taking on a certain level of national debt — until August 2021. After the policy expired, Yellen enacted “extraordinary” cash-saving measures to fund the federal government.
In an op-ed published by The Wall Street Journal , however, Yellen warned that the federal government will be unable to pay its bills as soon as next month unless Congress raises the debt […]
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