Yellen: Debt limit must be raised to avoid default



U.S. Treasury Secretary, Janet Yellen in London, England. (Photo by Justin Tallis - WPA Pool/Getty Images)

U.S. Treasury Secretary, Janet Yellen in London, England. (Photo by Justin Tallis – WPA Pool/Getty Images)

OAN Newsroom
UPDATED 1:50 PM PT – Monday, August 9, 2021

Treasury Secretary Janet Yellen has urged Congress to raise the debt limit once again. In a statement issued on Monday, Yellen pointed out the debt limit had been raised on a bipartisan basis in previous years.

While waiting for the limit to be raised again, Yellen said the Treasury Department has taken extraordinary measures to prevent a default on debt. She added failure to act would cause irreparable harm to the U.S. economy as well as the livelihoods of all Americans.

Meanwhile, Senate Minority Leader Mitch McConnell (R-Ky.) vows Republicans will not support any proposal to raise the debt limit.

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Carley Joanou
Author: Carley Joanou

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