{"id":1837629,"date":"2023-02-07T06:05:26","date_gmt":"2023-02-07T11:05:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1837629"},"modified":"2023-02-07T06:06:35","modified_gmt":"2023-02-07T11:06:35","slug":"treasury-sec-yellen-warns-of-catastrophe-if-debt-ceiling-not-raised","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-sec-yellen-warns-of-catastrophe-if-debt-ceiling-not-raised\/","title":{"rendered":"Treasury Sec Yellen Warns of Catastrophe If Debt Ceiling Not Raised"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftreasury-sec-yellen-warns-of-catastrophe-if-debt-ceiling-not-raised%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1837629&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Janet Yellen, Treasury Secretary, stated that raising the debt ceiling cannot be negotiated. House Republicans are continuing to push for a bill.<\/li>\n<li>Yellen claimed that the U.S. had never defaulted in its debt obligations and that it would lead to economic catastrophe.<\/li>\n<li>Yellen announced that President Joe Biden will speak during his State of the Union address about improved job numbers, and decreasing inflation.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107180541\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Janet Yellen (U.S. Treasury Secretary) on January 10, 2023, in Washington.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Kevin Dietsch | Getty Images News | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The U.S. government faces risks &#8220;economic and financial catastrophe&#8221; If the House fails or is unable to pass a bill that would raise the debt ceiling of $31.4 trillion, Treasury Secretary will be appointed. <a href=\"https:\/\/www.cnbc.com\/janet-yellen\/\">Janet Yellen<\/a> Monday<\/p>\n<p>Although the nation reached its statutory limit last month as of last month, Republican members in Congress insist on increasing it. <a href=\"https:\/\/www.cnbc.com\/2023\/01\/19\/yellen-says-treasury-is-taking-extraordinary-measures-to-avoid-default-as-us-hits-debt-limit.html\">Negotiate changes to federal spending rules<\/a> Before drafting a bill, we met with the White House. The Treasury Department, under Yellen, has taken <a href=\"https:\/\/www.cnbc.com\/2023\/01\/24\/debt-limit-treasury-suspends-some-federal-retirement-funding.html\">There are several temporary solutions<\/a> To help the government avoid default.<\/p>\n<p>&#8220;America has paid all of its bills on time since 1789, and not to do so would produce an economic and financial catastrophe,&#8221; Yellen spoke to ABC&#8217;s George Stephanopolous Monday. &#8220;And every responsible member of Congress must agree to raise the debt ceiling.&#8221;<\/p>\n<p>The Treasury Secretary stated that the House has always performed its duty to increase the limit, even if it has not done so often. &#8220;gone up to the wire.&#8221;<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107188015\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107188015\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000283895\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107188016-16753469451675346943-28025927331-1080pnbcnews.jpg?v=1675347461&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"Debt ceiling drama: What we need to know\"   style=\"display:none\"><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Kevin McCarthy, House Speaker, announced Monday that he would deliver an address about the debt ceiling at 5:30 p.m. ET. <a href=\"https:\/\/www.cnbc.com\/2023\/02\/02\/mccarthy-and-biden-plan-to-meet-again-on-debt-ceiling-but-appear-no-closer-to-a-deal.html\">Talks between McCarthy, President Joe Biden<\/a> They have been able to continue their negotiations amicably but no agreement has been reached.<\/p>\n<p>Yellen also praised the higher-than-expected January job figures and steadily declining inflation during the interview. These are issues that she believes Biden will address in Tuesday&#8217;s State of the Union speech.<\/p>\n<p>&#8220;Last month, we created over 500,000 jobs, more than 12 million since the president took office, and inflation is coming down,&#8221; She spoke. &#8220;It remains too high, but it&#8217;s been falling for the last six months.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/4db8932b7ac3e84e3f64.svg\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Janet Yellen, Treasury Secretary, stated that raising the debt ceiling cannot be negotiated. House Republicans are continuing to push for a bill. Yellen claimed that the U.S. had never defaulted in its debt obligations and that it would lead to economic catastrophe. Yellen announced that President Joe Biden will speak during his State of the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1837632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[16564,10142,5487,4959,3778,3633,5286],"class_list":["post-1837629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-catastrophe","tag-ceiling","tag-debt","tag-raised","tag-treasury","tag-warns","tag-yellen"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1837629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1837629"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1837629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1837632"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1837629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1837629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1837629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}