The United States should abolish its debt ceiling to ensure that spending passed in Congress under any administration goes through without a crisis, Treasury Secretary Janet Yellen said in a congressional testimony on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 30th September, 2021) The United States should abolish its debt ceiling to ensure that spending passed in Congress under any administration goes through without a crisis, Treasury Secretary Janet Yellen said in a congressional testimony on Thursday.
"Yes, I would," Yellen said when asked whether she supports eliminating the US debt limit. "I believe when Congress legislates expenditures and puts in place a tax policy that determines taxes, those are the crucial decisions Congress is making. To finance those spending and tax decisions, it's necessary to issue additional debt."
Yellen added that it was "very destructive to put the president and myself, the Treasury Secretary" in a crisis over the debt ceiling.
