Debts limit failure catastrophic

Debts limit failure catastrophic – Yellen

By Associated Press

Jun 25, 2021 12:42 am

WASHINGTON, D. C.: Treasury Secretary Janet Yellen told a congressional panel on Wednesday (Friday in Manila) that failing to raise the federal debt ceiling would have 'catastrophic consequences' that could bring on a financial crisis.

Testifying before a Senate Appropriations subcommittee, Yellen said in response to questions that it is important Congress not delay in dealing with the debt limit, which has been suspended for the past two years.

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