Press "Enter" to skip to content

Posts tagged as “1st Congressional District”

Treasury Secretary Janet Yellen Warns of Potential U.S. Government Default as Legal Borrowing Capacity is Reached

Treasury Secretary Janet Yellen has warned that the United States has reached its legal borrowing capacity and must now rely on "extraordinary measures" to avoid a catastrophic default. President Joe Biden and House Republicans are at odds over how to address the situation, and it is uncertain whether the United States can sidestep a potential economic crisis. The Treasury Department is urging Congress to raise the debt limit as soon as possible to avoid a potential economic crisis.