{"id":824317,"date":"2021-09-28T14:59:41","date_gmt":"2021-09-28T18:59:41","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=824317"},"modified":"2021-09-28T14:59:42","modified_gmt":"2021-09-28T18:59:42","slug":"treasury-secy-yellen-urges-congress-to-raise-debt-ceiling-by-oct-18","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-secy-yellen-urges-congress-to-raise-debt-ceiling-by-oct-18\/","title":{"rendered":"Treasury Secy. Yellen urges Congress to raise debt ceiling by Oct. 18"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/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-secy-yellen-urges-congress-to-raise-debt-ceiling-by-oct-18%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=824317&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_2533054\" class=\"wp-caption alignnone\">\n<p id=\"caption-attachment-2533054\" class=\"wp-caption-text\">Treasury Secretary Janet Yellen appears before a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act on Capitol Hill, Tuesday, Sept. 28, 2021 in Washington. (Matt McClain\/The Washington Post via AP, Pool)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 11:55 AM PT \u2013 Tuesday, September 28, 2021<\/h5>\n<p>Treasury Secretary Janet Yellen warned lawmakers that Congress has until October 18 to raise the debt ceiling or face economic calamity. In a letter to House Speaker Nancy Pelosi (D-Calif.) Tuesday, she said if Congress fails to act then the Treasury is \u201clikely to exhaust its extraordinary measures\u201d and the U.S. would default on its debt for the first time in history.<\/p>\n<p>Yellen cautioned this may have severe consequences as the full faith and credit of the U.S. will be questioned and a recession would most likely be unavoidable. She also raised alarm about the debt ceiling during testimony on Capitol Hill.<\/p>\n<p>\u201cThis would be a manufactured crisis we had imposed on this country, which has been going through a very difficult period,\u201d stated the Treasury secretary. \u201c(This country) is on the road to recovery and it would be a self-inflicted wound of enormous proportions.\u201d<\/p>\n<p>This comes as Democrats are trying to push a stopgap bill and get the legislation to Joe Biden\u2019s desk before a government shutdown on October 1.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/SecYellen?ref_src=twsrc%5Etfw\">@SecYellen<\/a>: &#8220;It is imperative that Congress address the debt limit. If not, our current estimate is the Treasury will likely exhaust its extraordinary measures by October 18th\u2026America would default for the first time in history.&#8221; <a href=\"https:\/\/t.co\/gf9kplwjbr\">pic.twitter.com\/gf9kplwjbr<\/a><\/p>\n<p>\u2014 CSPAN (@cspan) <a href=\"https:\/\/twitter.com\/cspan\/status\/1442862965821038593?ref_src=twsrc%5Etfw\">September 28, 2021<\/a><\/p>\n<\/blockquote>\n<p>Meanwhile, Sen. Ted Cruz (R-Texas) said Republicans in the upper chamber will unanimously object to Majority Leader Chuck Schumer\u2019s (D-N.Y.) attempt to avoid a filibuster on the debt ceiling. Cruz told reporters Tuesday, \u201cthere is no universe\u201d in which he would support making it easier to raise the debt limit.<\/p>\n<p>Schumer is set to request consent to raise the limit with just 50 votes, instead of the currently required 60. However, Cruz said Democrats should pass the measure as part of their reconciliation package.<\/p>\n<h4>MORE NEWS:&nbsp;<a href=\"https:\/\/www.oann.com\/senate-votes-against-suspending-debt-limit\/\">Senate Votes Against Suspending Debt Limit<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen appears before a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act on Capitol Hill, Tuesday, Sept. 28, 2021 in Washington. (Matt McClain\/The &#8230;<\/p>\n","protected":false},"author":7,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-824317","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\/824317","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=824317"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/824317\/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=824317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=824317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=824317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}