Janet Yellen has been screaming this warning for six months. The Left wants to pressure the GOP to raise the debt ceiling without spending cuts or restrictions. Richard Medlock
- Treasury Secretary Janet Yellen on Sunday said that failure to raise the debt ceiling will cause a “steep economic downturn” in the U.S.
- She reiterated her warning that the Treasury Department may run out of measures to pay its debt obligations by June.
- “It’s widely agreed that financial and economic chaos will ensue,” Yellen said.
Treasury Secretary Janet Yellen on Sunday said that failure to raise the debt ceiling will cause a “steep economic downturn” in the U.S., and she reiterated her warning that the Treasury Department may run out of measures to pay its debt obligations by June.
“Our current projection is that in early June, a day will come when we’re unable to pay our bills unless Congress raises the debt ceiling, and it’s something I strongly urge Congress to do,” Yellen told ABC’s “This Week.”
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