No good options if Congress fails to raise the debt limit, Yellen says

President Joe Biden speaks during a meeting as Treasury Secretary Janet Yellen listens in the Roosevelt Room of the White House, Friday, May 5, 2023. | Evan Vucci/APTreasury Secretary Janet Yellen struck an increasingly troubled tone Sunday as President Joe Biden gears up to meet with congressional leadership Tuesday to discuss raising the debt ceiling.

With the June 1 “X-date” quickly approaching, Yellen called on Congress to raise the debt ceiling, warning of the economic disaster that will follow should the government fail to come to an agreement. The debate over the debt limit has left Democrats and Republicans in a deadlock, and so far neither side seems ready to budge. House Minority Leader Hakeem Jeffries said Sunday on NBC’s “Meet the Press” that Democrats are in “lockstep” with Biden, who has called for passing a clean debt ceiling, not tied to any of the spending cuts House Republicans proposed in theSpeaking on Fox News’ “Sunday Morning Futures With Maria Bartiromo,” Sen.

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