Treasury Secretary Janet Yellen warned of an economic "calamity" if Congress does not raise the nation's borrowing limit, adding urgency to a meeting between President Joe Biden and congressional leaders. Yellen said a default could cause a "severe" economic downturn with a "ripple effect" felt around the world, and that the government would have to choose between paying Social Security benefits, military salaries, or interest on the debt.
Posts tagged as “California”
Tragedy Strikes Chico, California as One 17-Year-Old Girl is Killed and Five Others Wounded in Shooting at House Party
King Charles III Crowned in Historic Ceremony at Westminster Abbey, Meghan Markle Supporters Gather in Trafalgar Square
Davis Police Arrest 21-Year-Old Former UC Davis Student in Connection with Three Stabbings, Two of Which Were Fatal
New York and California Attorneys General Launch Investigation into NFL for Possible Violations of Pay Equity and Anti-Discrimination Laws
House Speaker McCarthy Accepts President Biden’s Invitation to Discuss Debt Ceiling Increase at White House Meeting on May 9
California Department of Financial Protection and Innovation Seizes Control of First Republic Bank, Appoints FDIC as Receiver