Treasury Secretary Janet Yellen again urged Congress to deal with the debt limit, telling lawmakers if they do nothing, they face the nation’s first-ever default soon after Dec. 15. That's a slight improvement from the Dec. 3 date she predicted last month.
FILE - Treasury Secretary Janet Yellen speaks during a meeting with President Joe Biden and business leaders about the debt limit in the South Court Auditorium on the White House campus, Wednesday, Oct. 6, 2021, in Washington. On Tuesday, Nov. 16, 2021, Yellen told Congress that she believed she would run out of maneuvering room to avoid the nation’s first-ever default soon after Dec. 15.
In a letter to congressional leaders, Yellen said that she believed Treasury could be left with insufficient resources to keep financing the government beyond Dec. 15. “To ensure the full faith and credit of the United States, it is critical that Congress raise or suspend the debt limit as soon as possible,” Yellen wrote to congressional leaders.
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