Yellen Says Debt Default Would Hurt US International Leadership
- Says US national security could also take a hit from default
- Says Congress should consider discarding the debt limit
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Treasury Secretary Janet Yellen said failure to avoid a looming federal government default would undermine Washington’s ability to provide international leadership and defend US national security.
Yellen has long warned a default could cause an “economic and financial catastrophe.” She added the new wrinkles Thursday while in Japan to attend a meeting of Group of Seven finance officials.