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Treasury Secretary Janet Yellen on Monday warned congressional leaders that a failure to raise the federal debt ceiling will cause “irreparable harm” as Congress barrels towards the deadline to fund the government. 

“In recent years Congress has addressed the debt limit through regular order, with broad bipartisan support,” Yellen said in an August 9 statement. “In fact, during the last administration, Democrats and Republicans came together to do their duty three times. Congress should do so again now by increasing or suspending the debt limit on a bipartisan basis.”

Yellen also made the same point in details ⇒

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