US Treasury Secretary Janet Yellen again urged Congress to address the issue of the national debt ceiling, saying it was not clear how long Treasury efforts to temporarily fund the US government would last. to ongoing economic concerns about the pandemic.
In a letter to lawmakers on Wednesday, Yellen wrote about the US government's borrowing limit that the most likely outcome was that liquidity and extraordinary measures would be exhausted during October.
Democrats and Republicans are staring at a historic financial crisis if they do not act, which could trigger a catastrophic default or temporary shutdown of some federal operations.
The Democratic-led Senate and House of Representatives leaders are expected to force a forced vote to raise the $28.4 trillion debt limit in late September.
The current national debt limit was technically exceeded on July 31, but the Treasury Department circumvents any default through what it calls exceptional measures.
Yellen, who has previously warned Congress about the default, said the department was unable to provide a definitive estimate of how long those steps would last, noting the uncertainty and said they It will provide lawmakers with updated information again at a later time.
At a time when American families, communities, and businesses continue to suffer from the effects of the ongoing global pandemic, it would be especially irresponsible to place the full faith and credibility of the United States Threatened place.
