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Yellen warns US lawmakers have only three weeks to default on their debt


In a letter to lawmakers this morning, Janet Yellen, Treasury Secretary warned that the United States has only three weeks to pay its debt.

“We now estimate that the Treasury is likely to exhaust its extraordinary measures if Congress did not act on October 18 to increase or suspend the debt limit. Yellen wrote.

“It is uncertain whether we will be able to meet all the obligations of the country after that date,” she added.

Yellen’s letter comes after Senate Republican, led by Senate Minority Leader Mitch McConnell (R-Ky.), which will keep the government funded, offers billions of dollars in hurricane relief and prevents the United States from defaulting on its debt.

Republican have said they would not support the debt limit suspension in protest of a $ 3.5 billion spending plan that would codify much of the Democratic agenda, especially an expansion of the social safety net.



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