Tag Archives Debt Ceiling

Yellen Warns Of ‘Economic and Financial Chaos’ If Congress Fails To Act On Debt Ceiling

Yellen warned Sunday of historical economic consequences if the U.S. defaults on its debt payments

Treasury Secretary Janet Yellen warned on Sunday that “financial and economic chaos would ensue,” if the U.S. fails to raise the debt ceiling by early June and strongly urge Congress to take decisive action to avoid an “economic calamity” ahead of President Biden’s meeting with “Big Four” Congressional leadership Tuesday.

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U.S. Hits Debt Limit, Triggering ‘Extraordinary Measures’ To Avoid Default

U.S. Hit Its Statutory Debt Limit, Setting Up Bitter Standoff Between Republicans & Biden

The U.S. government hit its statutory $31.4 trillion debt limit Thursday, Treasury Secretary Janet Yellen announced, prompting the Treasury to start taking “extraordinary measures” in order for the nation to avoid a catastrophic default for at least the next few months.

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Yellen Warns U.S. Will Hit Debt Limit In Less Than a Week

The U.S. To Hit Debt Ceiling In Less Than A Week, Spending Fight Battle Brewing On Capitol Hill

The U.S. is expected to reach its borrowing limit next Thursday, causing the Treasury Department to begin deploying “extraordinary measures” that buys the federal government enough time to starve off the specter of a debt default until at least early June as Washington kicks off a contentious debt ceiling battle.

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