In a letter sent to four congressional leaders, Treasury Secretary Janet Yellen warned the government is expected to reach its debt limit next week. See potential bias and similarities in coverage from thehill, FoxBusiness, and AP:
Treasury Secretary Janet Yellen sent a letter to four congressional leaders on Friday, warning them that the government is expected to reach its debt limit on Thursday. Should this happen without the limit being raised, the Treasury Department will enact “extraordinary measures” to prevent a debt default.The current debt limit is $31.4 trillion. The last time the debt ceiling was raised was 2021.
economy, the livelihoods of all Americans, and global financial stability.” While the Department’s cost-cutting measures can pay the bills until the summer, Yellen called for a swift resolution, warning that even “threats that the U.S. government might fail to meet its obligations” could cause global financial panic.
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