US Treasury Secretary Janet Yellen warned again in her call for Congress to raise or suspend the US debt ceiling, saying the government will run out of money and won't be able to pay its bills sometime in October.
According to Arab Net, Yellen wrote in an op-ed in the Wall Street Journal that economists and Treasury officials of both parties agree that failure to raise the debt limit would lead to disaster. Extensive economic.
The US House of Representatives will vote next week to raise the country's $28 trillion debt ceiling, amid a standoff between Democrats and Republicans that continues to threaten a debt default next month. .
U.S. default is likely to precipitate a historic financial crisis that will exacerbate the damage from the ongoing public health emergency, and push the U.S. into stagnation and left by a permanently weaker nation.
Delays or omissions should not be tolerated, and lawmakers must act quickly, Yellen added.
Senate Minority Leader Mitch McConnell has rejected Yellen's request that Republicans join Democrats in raising the federal debt ceiling, leaving the two sides at odds that could take weeks for the limit to be crossed. allowed.
