{"id":350974,"date":"2021-10-10T20:28:07","date_gmt":"2021-10-10T17:28:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/treasury-chief-says-no-debt-ceiling-raise-is-a-catastrophe\/"},"modified":"2021-10-10T20:28:07","modified_gmt":"2021-10-10T17:28:07","slug":"treasury-chief-says-no-debt-ceiling-raise-is-a-catastrophe","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/treasury-chief-says-no-debt-ceiling-raise-is-a-catastrophe\/","title":{"rendered":"#Treasury chief says no debt ceiling raise is a &#8216;catastrophe&#8217;"},"content":{"rendered":"<p>&#8220;<strong>#Treasury chief says no debt ceiling raise is a &#8216;catastrophe&#8217;<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>\u200bTreasury Secretary Janet Yellen warned on Sunday that it would be a \u201ccatastrophe\u201d if Democrats and Republicans fail to raise the debt ceiling, and painted a dire picture of the consequences such a scenario would have on Americans and the US economy.\u200b<\/p>\n<p>The Senate voted along party lines last week to \u200braise the federal government\u2019s borrowing limit by about $480 billion but with another showdown expected in December. Senate Minority Leader Mitch McConnell, who <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved of the short-term extension, said Democrats will be on their own.<\/p>\n<p>Yellen was asked what would happen if the debt limit isn\u2019t raised. \u200b<\/p>\n<p>\u201cFifty million Americans wouldn\u2019t receive <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security payments. Our troops won\u2019t know when or if they would be paid. The 30 million families that receive a child tax credit, those payments would be in jeopardy,\u201d\u00a0\u200bshe said on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/\u200bhttps:\/\/abcnews.go.com\/Politics\/treasury-secretary-yellen-warns-debt-ceiling-battle-spell\/story?id=80498311\">ABC\u2019s \u201cThis Week,\u201d <\/a>adding the situation \u201ccould result in catastrophe.\u201d<\/p>\n<p>No Republicans voted last Thursday to raise the debt ceiling, but 11 GOP senators voted with Democrats to end debate and allow the measure to proceed to a vote.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-191.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Treasury Secretary Janet Yellen speaks with President Joe Biden during a meeting on the federal debt ceiling at the White House on October 6, 2021.\" class=\"wp-image-19759253\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-191.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-191.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-191.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Treasury Secretary Janet Yellen speaks with President Joe Biden during a meeting on the federal debt ceiling at the White House on October 6, 2021.<br \/>\n<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>McConnell (R-Ky.) joined his GOP colleagues to vote for cloture.<\/p>\n<p>But irked at Senate Majority Leader Chuck Schumer\u2019s fiery speech blasting Republicans for playing a \u201cdangerous and risky partisan <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>\u201d during negotiations, McConnell said his caucus wouldn\u2019t be there to help in December, meaning Democrats would need 60 votes in the 50-50 divided chamber.\u200b<\/p>\n<p>While the Senate passed the legislation, it still needs to be approved by the House before being signed by President Biden. \u200b<\/p>\n<p>Despite the dire consequences of failing to raise the debt ceiling in December, Yellen argued against invoking the 14th Amendment\u2019s \u201cpublic debt clause.\u201d<\/p>\n<p>ABC\u2019s George Stephanopoulos asked Yellen about justifying continued borrowing under the 14th Amendment that states that \u201c\u2018the validity of the public debt of the United States should not be questioned.&#8217;\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-189.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"US Treasury Secretary Janet Yellen\" class=\"wp-image-19759251\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-189.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-189.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-189.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Treasury Secretary Janet Yellen argues 50 million Americans \u201cwouldn\u2019t receive Social Security payments,\u201d if the federal debt ceiling isn\u2019t raised.<br \/>\n<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-192.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"US Treasury Secretary Janet Yellen\" class=\"wp-image-19759254\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-192.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-192.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-192.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Treasury Secretary Janet Yellen slams Congress for not paying the bills \u201con a bipartisan basis.\u201d<br \/>\n<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cWe shouldn\u2019t be in a position where we need to consider whether or not the 14th Amendment applies. That\u2019s a disastrous situation that the country shouldn\u2019t be in,\u201d Yellen said.\u200b<\/p>\n<p>The Treasury secretary said she doesn\u2019t want to see the president being put in a scenario in which Congress refused to \u201clet us pay the government\u2019s bills.\u201d\u200b<\/p>\n<p>\u201cYou know, what should you pay first? \u2026 We have to reassure the world that the United States is fiscally responsible, and that they can count on us to pay our bills. And that\u2019s Congress\u2019s job to do that on a bipartisan basis,\u201d sh\u200be said\u200b.<\/p>\n<p>\u200bShe called on Schumer and House Speaker Nancy Pelosi to \u201c\u200bmanage this so that we don\u2019t face this situation.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/10\/10\/treasury-chief-says-no-debt-ceiling-raise-is-a-catastrophe\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Treasury chief says no debt ceiling raise is a &#8216;catastrophe&#8217;&#8221; \u200bTreasury Secretary Janet Yellen warned on Sunday that it would be a \u201ccatastrophe\u201d if Democrats and Republicans fail to raise the debt ceiling, and painted a dire picture of the consequences such a scenario would have on Americans and the US economy.\u200b The Senate voted&#8230;<\/p>\n","protected":false},"author":1,"featured_media":350975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/Janet-Yellen-190.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[81188,117306,71313,116734,41445,70289],"class_list":["post-350974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-janet-yellen","tag-10-10-21","tag-chuck-schumer","tag-debt-ceiling","tag-mitch-mcconnell","tag-senate"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/350974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=350974"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/350974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/350975"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=350974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=350974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=350974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}