Yellen says impacts of a U.S. debt default would be felt ‘into perpetuity’


U.S. Treasury Secretary Janet Yellen on Tuesday warned of severe economic consequences if Congress does not address the debt ceiling, as Republicans were readying a House vote on the matter.

“It is unlikely that the federal government would be able to issue payments to millions of Americans, including our military families and seniors who rely on Social Security,” she said in remarks prepared for delivery to the Sacramento Metropolitan Chamber of Commerce.


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