General World News

Janet Yellen says there could be a financial crisis if there’s no deal on the debt ceiling by August. 5 experts break down what’s at stake — and whether markets will face ‘catastrophic’ consequences

Janet Yellen testifies before the House Finance Committee

Summary List Placement

Treasury Secretary Janet Yellen has issued an ominous warning to lawmakers about the potential fallout from not ensuring the US government’s ability to keep on borrowing. 

She told a Senate panel on June 23 the US may not be able to pay its bills by mid-August and could be at risk of default unless the debt ceiling is raised or resuspended before the annual recess for Congress in August.

The debt ceiling is the maximum amount the US government can borrow to meet its financial obligations. Congress agrees on what that amount is. Once that limit details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com