Yellen warns of economic catastrophe and disrupted Social Security payments in event of US debt default.
TL;DR Summary
US Treasury Secretary Janet Yellen warned that a debt default would disrupt Social Security payments and raise borrowing costs "into perpetuity." She urged Congress to address the debt ceiling, as Republicans were preparing for a House vote on the matter. Yellen said it was unlikely that the federal government would be able to issue payments to millions of Americans, including military families and seniors who rely on Social Security.
- Yellen warns debt default would disrupt Social Security payments, raise borrowing costs 'into perpetuity' MarketWatch
- Yellen Says US Default Would Cause an 'Economic Catastrophe' Bloomberg Television
- US default on debt would trigger an 'economic catastrophe' - Yellen Yahoo Canada Finance
- Debt limit action should be 'without conditions': Yellen ZAWYA
- Yellen Says Debt Limit Threatens Economic Gains Made Under Biden Bloomberg
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