The United States Congress has a deadline on paying its bills: October 18, 2021.
Secretary of the Treasury Janet Yellen said that if Congress does not raise the debt ceiling, the Treasury will run out of emergency funds to pay U.S. debt holders by that date.
“Failing to increase the debt limit would have catastrophic economic consequences,” Yellen told the Senate Banking Committee on Tuesday.
In August, a statutory limit on federal debt — called the debt ceiling — was reinstated,…
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