Treasury Sec. Yellen says Congress has just under three weeks to raise the debt limit

9/28/2021- 10:48 p.m.

Treasury Sec. Yellen says Congress has just under THREE WEEKS to raise the debt limit amid DEFAULT & RECESSION fears

“We now estimate that the Treasury is likely to exhaust its extraordinary measures if Congress has not acted to raise or suspend the debt limit by October 18,” she wrote to House Speaker Pelosi.

Yellen is testifying in front of the Senate Banking Committee on Tuesday. She warns “America would default for the first time in history” if the debt limit is not addressed promptly.

“The full faith and credit of the United States would be impaired, and our country would likely face a financial crisis and economic recession.”