Democrats

Janet Yellen says Treasury is prepared to pay the US's bills to prevent 'irreparable harm' to the economy as GOP balks at raising debt ceiling

1 month ago   |   By

Summary List Placement Treasury Secretary Janet Yellen sent a letter to Congress urging lawmakers to renew the federal government's ability to pay off its debt ahead of a major deadline, warning that failing to do so in a timely manner risks major damage for average people and the economic recovery.
Republicans led by Senate Minority Leader Mitch McConnell are balking at raising the debt limit without ensuring spending cuts from Democrats. He suggested earlier this week that Democrats would have to do it on their own with no GOP support.
In the letter, Yellen said the US will hit its...
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Yellen outlines to Congress emergency measures on debt limit

Yellen outlines to Congress emergency measures on debt limit

1 month ago   |   By

Treasury Secretary Janet Yellen told Congress on Friday that she will start taking emergency measures next week to keep the government from an unprecedented default on the national debt.
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Janet Yellen to Take 'Extraordinary Measures' to Prevent U.S. From Debt Default

1 month ago   |   By

Yellen said the U.S.' current debt level is a result of spending and tax decisions made "by Administrations and Congresses of both parties over time."
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