Treasury Secretary Janet Yellen is warning Congress that she will run out of maneuvering room to prevent the U.S. from broaching the government's borrowing limit in October.
Dr. C. Nicole Mason joins us to explain the"She-cession" and the reluctancy of women returning to the office.WASHINGTON -- Treasury Secretary Janet Yellen is warning Congress that she will run out of maneuvering room to prevent the U.S. from broaching the government's borrowing limit in October.
Yellen said recent measures to address the debt limit had enjoyed “broad bipartisan support,” But Republicans have said they will oppose an effort by Democrats to deal with the debt limit by attaching a provision to an emergency budget bill that Congress will need to pass before the start of the budget year on Oct. 1. That legislation is needed to avoid aInstead, some Republicans have said Democrats should attach a debt limit increase to the $3.
The debt limit is the amount of money Congress allows Treasury to borrow to keep the government running. When the debt limit was suspended for two years in July 2019, the public debt subject to the limit stood at $22 trillion. While Republicans in Congress have often used the debt limit debate to extract budget concessions from Democratic presidents, lawmakers have never failed to raise the debt limit or suspend it to allow the government to keep borrowing.
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