Yellen Renews Call to Raise Debt Limit to Avoid ‘Catastrophe’
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Treasury Secretary Janet Yellen renewed her call for Congress to raise or suspend the U.S. debt ceiling, saying the government will otherwise run out of money to pay its bills sometime in October.
Writing in a Wall Street Journal op-ed, Yellen said “the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe.”