May 23, 2024

Rocky Daily News

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‘No good options’ if Congress fails to act on debt – The Denver Post

1 min read


By ZEKE MILLER (AP White House Correspondent)

WASHINGTON (AP) — Treasury Secretary Janet Yellen said Sunday that there are “no good options” for the United States to avoid an economic “calamity” if Congress fails to raise the nation’s borrowing limit of $31.381 trillion in the coming weeks. She did not rule out President Joe Biden bypassing lawmakers and acting on his own to try to avert a first-ever federal default.

Her comments added even more urgency to a high-stakes meeting Tuesday between Biden and congressional leaders from both parties.

Democrats and Republicans are at loggerheads over whether the debt limit should even be the subject of negotiation. GOP lawmakers, led by House Speaker Kevin McCarthy of California, are demanding spending cuts in return for raising…

The Associated Press

2023-05-07 10:56:18

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