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Yellen Urges Congress: Raise $36 Trillion Debt Ceiling Now!

1/18/2025

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Summary

Story summary

Outgoing Treasury Secretary Janet Yellen warned that the U.S. will hit its staggering $36 trillion debt limit on January 21. To avert a default, the Treasury will deploy "extraordinary measures." Yellen implored Congress to raise or suspend the debt ceiling, emphasizing that inaction could unleash dire economic repercussions for the incoming Trump administration.

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Story summary

Outgoing Treasury Secretary Janet Yellen warned that the U.S. will hit its staggering $36 trillion debt limit on January 21. To avert a default, the Treasury will deploy "extraordinary measures." Yellen implored Congress to raise or suspend the debt ceiling, emphasizing that inaction could unleash dire economic repercussions for the incoming Trump administration.