{"id":609242,"date":"2021-08-02T22:51:50","date_gmt":"2021-08-03T02:51:50","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=609242"},"modified":"2021-08-02T22:51:52","modified_gmt":"2021-08-03T02:51:52","slug":"treasury-dept-taking-extraordinary-measures-to-avoid-default-after-congress-failed-to-raise-debt-ceiling","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-dept-taking-extraordinary-measures-to-avoid-default-after-congress-failed-to-raise-debt-ceiling\/","title":{"rendered":"Treasury Dept. taking \u2018extraordinary measures\u2019 to avoid default after Congress failed to raise debt ceiling"},"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\">30<\/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-dept-taking-extraordinary-measures-to-avoid-default-after-congress-failed-to-raise-debt-ceiling%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=609242&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--><div id=\"attachment_2479348\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-2479348\" class=\"wp-caption-text\">Janet Yellen in the Fox Washington bureau in Washington. (AP Photo\/Andrew Harnik, File)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 7:49 PM PT \u2013 Monday, August 2, 2021<\/h5>\n<p>Treasury Secretary Janet Yellen laid out a number of \u201cextraordinary measures\u201d to avoid a default on national debt. In a letter to Congress on Monday, Yellen announced the Treasury suspended investments in retirement services for civil servants and postal workers.<\/p>\n<p>In 2019, Congress voted to suspend the federal debt limit for two years. On Saturday, that suspension expired with an increase in federal debt limit to about $28.5 trillion.<\/p>\n<p>Before heading out for legislative recess, the House failed to address the end of the suspension. Yellen went on to say she was unsure how long the Treasury would be able to maintain these measures in order to buy more time for Congress to address the issue.<\/p>\n<p>\u201cIt\u2019s like a game of chicken. We see in the U.S. two cars heading towards each other like they\u2019re gonna crash. One car has to swerve first, otherwise they\u2019ll crash,\u201d she explained. \u201cSo we\u2019re gonna see instead, both sides pulling away at some of their demands, probably postponing certain things, trying to negotiate and see which side wins first.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/NEW?src=hash&amp;ref_src=twsrc%5Etfw\">#NEW<\/a> Letter from Yellen to Pelosi on debt ceiling after Congress failed to address the issue before recess <a href=\"https:\/\/t.co\/axcX7XZv9L\">pic.twitter.com\/axcX7XZv9L<\/a><\/p>\n<p>\u2014 Greta Wall (@GretaLWall) <a href=\"https:\/\/twitter.com\/GretaLWall\/status\/1422294965779107841?ref_src=twsrc%5Etfw\">August 2, 2021<\/a><\/p>\n<\/blockquote>\n<p>The U.S. has been able to avoid a default for over 30 years with the federal government occasionally shutting down until a deal was made. The Congressional Budget Office estimated the measures to free up over $340 billion in borrowing capacity, along with the Treasury\u2019s current balance of $459 billion.<\/p>\n<p>If Congress takes no action, those funds will last until late October or early November.<\/p>\n<h4>MORE NEWS:&nbsp;<a href=\"https:\/\/www.oann.com\/u-s-state-dept-taliban-shows-little-regard-for-human-life\/\">U.S. State Dept.: Taliban Shows Little Regard For Human Life<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Janet Yellen in the Fox Washington bureau in Washington. (AP Photo\/Andrew Harnik, File) OAN NewsroomUPDATED 7:49 PM PT \u2013 Monday, August 2, 2021 Treasury Secretary Janet Yellen laid out a &#8230;<\/p>\n","protected":false},"author":7,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-609242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/609242","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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=609242"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/609242\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=609242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=609242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=609242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}