Yellen Warns of Economic Calamity if Debt Ceiling Not Raised.
TL;DR Summary
Treasury Secretary Janet Yellen has warned of an economic disaster if Congress fails to raise the debt ceiling before the June 1 "X-date." Yellen called on Congress to raise the debt ceiling and cautioned against negotiations "with a gun really to the head of the American people." Democrats and Republicans remain deadlocked on the issue, with neither side willing to budge. Some analysts have suggested that President Biden could invoke the 14th Amendment to raise the ceiling unilaterally, but Yellen urged Congress to do its job and avoid an economic catastrophe.
- No good options if Congress fails to raise the debt limit, Yellen says POLITICO
- Yellen to US Congress: Raise Debt Ceiling or Face Economic Calamity Voice of America
- Yellen Says No Good Alternative to Congress Lifting Debt Cap Yahoo Finance
- Yellen calls invoking 14th Amendment a ‘constitutional crisis’ The Hill
- Senior Treasury officials reiterate dire warnings if debt ceiling isn't lifted, pour cold water on invoking the 14th Amendment CNN
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