Yellen Urges Congress to Raise Debt Ceiling to Avoid Economic Calamity
TL;DR Summary
Treasury Secretary Janet Yellen has urged congressional Republicans to drop their demand that President Biden cut spending in exchange for raising the nation’s debt limit ahead of an estimated June 1 default deadline. Yellen warned Congress last week that the Treasury Department could run out of options to keep paying those bills as early as June 1. The Biden administration has said it is refusing to negotiate over raising the nation’s debt limit.
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- Yellen to US Congress: Raise Debt Ceiling or Face Economic Calamity Voice of America
- Yellen calls invoking 14th Amendment a ‘constitutional crisis’ The Hill
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