Treasury Secretary Janet Yellen said in an interview published Sunday that Republican calls for spending cuts in exchange for agreeing to raise the debt ceiling were “very irresponsible.”
In an interview with The Associated Press published Sunday, Yellen said the GOP’s stance on the debt ceiling could have far-reaching consequences for the economy.
“It is possible for markets to become quite concerned about whether or not the U.S. will pay its bills,” Yellen told the newswire.
The Biden administration has warned that an extended standoff over the debt ceiling could destroy faith in the credit of the U.S. government and spur a deep economic recession.
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