Yellen: Defaulting on debt could cause 'self-imposed calamity'

from House Republicans that calls for triaging payments after the exhaustion of "extraordinary measures" to avoid default.When asked about potential demands from the GOP for spending cuts in exchange for backing a higher debt limit, Yellen called the position "a very irresponsible thing to do" and said it could have serious consequences even before "the day of reckoning.

"It is possible for markets to become quite concerned about whether or not the U.S. will pay its bills," she told AP, highlighting the negative economic impacts of the 2011 debt showdown.

That should be the R's motto...

Fix it cut waste

And Gaetz, MTG, and McCarthy will be so, so proud.

Couldn't be worse than that hairdo

the WEF great reset will implode

The show goes on

Isn't that the desired result for the Chicago school?

I hope you do better with your checking account !

Not good, but what is worse, is that we have been on a spending binge, for some time, that, now or later, leads to bankruptcy. STOP the wasteful spending. pay the bills with what we have. Stop the borrowing.

How does the Secretary feel about the Trillion dollar coin idea?

Why do we have the same people telling us the sky is falling every time we get to this point in the debt ceiling cycle? It is not very convincing!

Maybe should’ve thought of that before ramming through the SECOND 1.7 trillion dollar pork fest

It’ll only be the third time this century republicans have destroyed the economy. No biggie.

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