Yellen: Different system needed to end repeated standoffs over US debt ceiling
Treasury Secretary Janet Yellen says that in her personal opinion, the United States should adopt a different system for national finances that might forestall repeated standoffs with Congress over spending
By ELAINE KURTENBACH
Published - May 11, 2023, 04:18 AM ET
Last Updated - Jun 21, 2023, 08:44 PM EDT
NIIGATA, Japan (AP) — After dozens of standoffs with Congress over government spending in recent decades, Treasury Secretary Janet Yellen said Thursday that in her personal opinion, the United States should adopt a different system for national finances.
It's a predicament that has occurred nearly 80 times since 1960, she said. The Treasury Department has warned the U.S. could default as soon as June 1 if there is no deal.
