Debt ceiling impasse threatens economic stability.
TL;DR Summary
US Treasury Secretary Janet Yellen has warned that failure to raise the debt ceiling will cause a "steep economic downturn" in the US, and she reiterated her warning that the Treasury Department may run out of measures to pay its debt obligations by June. Lawmakers have been trying to find a path forward to raise or suspend the debt ceiling, which would enable the US to pay its bills on time.
- Yellen warns of 'economic chaos' unless Congress raises the debt ceiling CNBC
- Biden, Lawmakers Look to Break Impasse on Debt Ceiling The Wall Street Journal
- Using 14th Amendment to solve debt ceiling would risk 'constitutional crisis,' Yellen says ABC News
- Debt limit default consequences for mortgages, credit cards and jobs NBC News
- White House weighing the possibility of a short-term debt ceiling extension Yahoo News
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