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U.S. debt limit crisis must be resolved 'immediately' Treasury's Yellen says

EconomyOct 06, 2021 02:37PM ET
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© Reuters. FILE PHOTO: Treasury Secretary Janet Yellen attends the House Financial Services Committee hearing in Washington, U.S., September 30, 2021. Al Drago/Pool via REUTERS/File Photo

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen said the country's debt limit needs to be raised by Congress "immediately" to avoid a financial crisis.

Speaking with bank CEOs and President Joe Biden at the White House, Yellen warned the Treasury would have "very limited cash" that would be quickly depleted after Oct. 18.

Congress needs to pay immediate attention to the crisis, she said. "It must be resolved immediately."

If not, Yellen said, the U.S. would face a financial crisis and likely a recession, she said.

U.S. debt limit crisis must be resolved 'immediately' Treasury's Yellen says
 

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Comments (8)
Edward Smyth
Edward Smyth Oct 06, 2021 4:38PM ET
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borrow n spend or tax n spend? all they ever do!
Edward Smyth
Edward Smyth Oct 06, 2021 4:33PM ET
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helicopter Janet now too! print some trillions more why not! lol
Optimum integrated Services
Optimum integrated Services Oct 06, 2021 3:34PM ET
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the congress should situp to avoid recession , and join hand and move america forward.
ZS Beck
ZS Beck Oct 06, 2021 2:56PM ET
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I want to ask her, she looks smart. How many times we can raise the limit, before the default? How much more money can be printed before we pay a 100$ for a loaf of bread, but still making 18$/hour?
Edward Smyth
Edward Smyth Oct 06, 2021 2:56PM ET
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very soon! the bust is coming, check your history, humans don't learn from it, repeats!
Bill Ackman
Bill Ackman Oct 06, 2021 2:49PM ET
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Bernie madoff style ponzi scheme is this US debt repayment scheme…Issueinh more debt to pay for the previous debt xDDD
Pratt Man
Pratt Man Oct 06, 2021 2:45PM ET
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Trump's tax cuts were supposed to pay for themselves and all we got was another recession.
Pratt Man
Pratt Man Oct 06, 2021 2:44PM ET
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Donald Trump's tax cuts cost us $10 trillion and now Republicans hide when the bill comes due
Gervais Christopher
Gervais Christopher Oct 06, 2021 2:42PM ET
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Ms./Mrs. Yellen: You pay for it. Taxpayers have been 'fleeced' enough through 3 generations.
 
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