. Yellen previously indicated the treasury can enact “extraordinary measures” to pay the government’s bill until the summer, at which point the government faces a potential debt default. Speaking on the U.S. reaching the debt ceiling, Yellen said, “in my assessment - and that of economists across the board - a default on our debt would trigger an economic and financial catastrophe.
” Addressing a Republican proposal to prioritize certain payments, Yellen said, “prioritization is simply not paying all of the government's bills when they come due,” adding that “we're kidding ourselves because not paying the government's bills will produce economic and financial collapse.
Reuters CBSNews FoxBusiness But it's just transitory... right?
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Yellen delivers in-person warning to US House members on debt ceilingU.S. Treasury Secretary Janet Yellen urged members of the U.S. House of Representatives on Friday to raise the federal debt ceiling without conditions, warning that a default on U.S. debt would cause an 'economic and financial catastrophe.' She can go back to the Ukrainian President and ask for our money back! 🔥 I'm old enough to remember when Yellen said inflation was not a problem... or in her words, 'transitory' and it would abate after COVID. Why do we call it a debt ceiling as it keeps going up. How about we call it a debt hole.
Source: Reuters - 🏆 2. / 97 Read more »
Yellen warns U.S. House members of 'economic collapse' from defaultU.S. Treasury Secretary Janet Yellen urged members of the U.S. House of Representatives on Friday to raise the federal debt ceiling without conditions, warning that a default on U.S. debt would cause 'economic and financial collapse.' Blah blah blah Yellen should tell the truth...the only reason they need to raise the debt ceiling is bc the gov spends too much, what a joke. All the spending is causing inflation. Pls stop lying to the american people Maybe she should not have visited Ukraine and promised money.
Source: Reuters - 🏆 2. / 97 Read more »