Yellen says White House needs Congress to avoid debt default

Yellen Says White House Needs Congress To Avoid Debt Default - Klwd4Olxsc4Ig4Ej6Jkazkxuti
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Treasury Secretary Janet L. Yellen on Sunday urged congressional Republicans to drop their demand that President Biden cut spending in exchange for raising the nation’s debt limit ahead of an estimated June 1 default deadline.

“These negotiations,” Yellen said on ABC’s “This Week, “should not take place with a gun … to the head of the American people.”

Yellen’s comments are the latest demand from the Biden administration ahead of the president’s meeting with House Speaker Kevin McCarthy (R-Calif.) slated for Tuesday.

Since Republican lawmakers took control of the House in January, they have tried to seize on the looming deadline to extract spending cuts and other policy concessions from the White House.

Biden and House Republicans have spent weeks digging in their heals as budget officials warned of the consequences for not reaching a deal soon. Last week, the Treasury Department said the government has hit the current $31.4 trillion debt…

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This article was written by Azi Paybarah and originally published on