“Treasury Secretary Janet Yellen mentioned that the federal authorities must renege on some funds if Congress doesn’t elevate the debt restrict, although no plan on how the division would proceed has but been introduced to President Joe Biden,” Bloomberg experiences.
Mentioned Yellen: “If Congress fails to try this, it actually impairs our credit standing. We’ve got to default on some obligation, whether or not it’s Treasuries or funds to Social Safety recipients. That’s one thing America hasn’t performed since 1789. And we shouldn’t begin now. So we’ve not mentioned what to do.”
