US debt crisis

US treasury secretary Janet Yellen has urged Congress to raise the nation’'s debt ceiling to ward off an economic crisis.

Yellen called on legislators to increase the 31.4-trillion-dollar federal debt limit to avert an unprecedented default that would trigger a domestic as well as a global economic downturn.

Her comments came after President Joe Biden warned that the country could slip into recession if lawmakers fail to raise the debt ceiling.

 
 

 

 


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