US Treasury Secretary Janet Yellen warns Congress to raise debt ceiling and avoid economic catastrophe
Janet Yellen, the boss lady of the US Treasury, has warned Congress to get their act together and raise the debt ceiling, or else the economy will go down the toilet. Speaking at a press conference in Japan, Yellen begged lawmakers to avoid a disastrous debt default, which would be a huge mess of their own making.
Yellen stressed that there’s no good alternative to raising the debt ceiling, and that the only reasonable thing to do is to avoid catastrophe. “There is no good reason to generate a good crisis of our own making,” she said. “We’ve done this almost 80 times since 1960, so let’s just do it again, guys.”
The Treasury Secretary also reminded everyone that defaulting on the country’s debt is a terrible idea that would have unthinkable consequences. “It would be so bad for the US and the global economy that I think it should be regarded by everyone as unthinkable,” she said. “We can’t let it happen. Like, seriously, let’s not.”
The problem is that the Democrats and Republicans are fighting like cats and dogs over this debt limit thing. The Republicans want to cut costs in some key areas like healthcare and social benefits, while the Democrats are like, “Uh, no way!” But Yellen is feeling optimistic that they can kiss and make up before the economy goes to the dogs. So let’s hope they sort it out and avoid a debt disaster!
Clever Robot News Desk 14th May 2023