Author Topic: Treasury Secretary Yellen calls House GOP 'irresponsible' for demanding spending cuts amid shutdown  (Read 133 times)

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Offline mystery-ak

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Treasury Secretary Yellen calls House GOP 'irresponsible' for demanding spending cuts amid shutdown

Some Democrats, such as Senate Majority Whip Dick Durbin of Illinois, have said that Biden should not negotiate with the GOP on the debt ceiling.


By Madeleine Hubbard

Updated: January 22, 2023 - 4:27pm


Treasury Secretary Janet Yellen said that House Republicans are being "very irresponsible" and risk creating a global economic catastrophe by demanding spending cuts in return for raising the U.S. debt ceiling.

During her diplomatic trip to Africa, Yellen said during an interview Saturday with The Associated Press that she believes Congress will vote to raise the U.S. debt limit, but making the increase conditional on spending cuts is "a very irresponsible thing to do."

Yellen said late last week that the Treasury is implementing "extraordinary measures" to avoid defaulting after the U.S. hit the $31.38 trillion debt ceiling.

A U.S. default on debt "would impose a self-imposed calamity in the United States and the world economy," she said Saturday.

"Congress needs to understand that this is about paying bills that have already been incurred by decisions with this and past Congresses and it's not about new spending," Yellen said. She stated that she believes in the importance of responsible government debt levels, "but it can't be negotiated over whether or not we're going to pay our bills."

Some Democrats, such as Senate Majority Whip Dick Durbin of Illinois, have said that President Joe Biden should not negotiate with Republicans on the debt ceiling.

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Offline GtHawk

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I think the current majority in Congress has a much better idea of their fiduciary responsibility than our incompetent treasury secretary who thinks it's just fine running up outrageous debt and just printing more money to cover it will have no negative effect. No wonder Yellen can't understand inflation.

Offline Hoodat

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Wait, I thought Yellen said that some catastrophic event would occur if Congress didn't increase the debt ceiling by last week's deadline.  Looks like Secretary Yellen is a liar.
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