Treasury Secretary Janet Yellen on Friday warned of the widespread global effects that could be felt if the federal government exhausts extraordinary measures and fails to raise the debt ceiling, telling CNN’s Christiane Amanpour about the ways everyday Americans could face stark consequences. Yellen’s warning comes after the United States on Thursday hit its $31.
“On top of that, a failure to make payments that are due, whether it’s the bondholders or to Social Security recipients or to our military, would undoubtedly cause a recession in the US economy and could cause a global financial crisis.” “It would certainly undermine the role of the dollar as a reserve currency that is used in transactions all over the world. And Americans – many people would lose their jobs and certainly their borrowing costs would rise,” she continued.
What is the point of a debt ceiling when the people doing the spending know they can just raise it? How many people would stick to a budget if they knew they could just raise the number in their bank account?
Let it burn
Republicans want America to come to an end
Better reason to stop this madness now or we’ll have this issue every time. Take control of our spending. Of course if we do DC will have to actually think past votes and make tough decisions. Which all Americans can relate to
Ha, the same global financial crisis experts (not leftists) have been warning you about for over a year, way before you needed to use debt ceiling as a headline. You people are like clockwork I swear.
She is Useless
How about we start with not supporting Ukraine. Boom, I just saved you a few billion. Problem solved.
Make all of congress and their staff lose their salary (no repayments either) during a shut down. Problem solved
Stop spending my kids money
Hey CNN why nothing on this story ?
I need my debt ceiling raised too... I spent more then I make so just give me more to spend please
Translation: world, pay up.
David Crosby passes away, and his face now resides in Janet Yellin
How bout stop spending billions out of country and start investing in our own
Even if CNN reported the sky was blue, I wouldn’t believe them
That's precisely why the GOP is refusing to raise the debt ceiling. Extortion doesn't work unless you can threaten to do harm if your demands aren't met. The GOP is a terrorist organization.
Game of Thrones, when the sun rises as usual, sunbathing is enough.
Oh please stop with constant fear mongering. We won't default, we have until at least June. It will be raised just enough to cover necessary items, the rest will be negotiated.
Derp ceiling...tehehe
Every time this bird sings, my bank account gets it's wings ....and flies away
Not to many, only Hunter and his prostitutes had access to the classified documents.
Why have a debt ceiling if it continues to be lifted?
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: USATODAY - 🏆 100. / 63 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: YahooNews - 🏆 380. / 59 Read more »