US to hit debt prohibit on August 1, Yellen warns

by Jul 23, 2021Business, Government & Politics0 comments

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AFP

Washington (AFP) – The US govt will hit the federal borrowing prohibit on August 1, forcing officers to take “extraordinary measures” till lawmakers building up the extent, Treasury Secretary Janet Yellen mentioned Friday. Congress suspended the debt prohibit in 2019 however that exemption expires in about two weeks, and Yellen warned of dire penalties if Congress fails to behave. “If Congress has not acted to suspend or increase the debt limit by Monday, August 2, 2021, Treasury will need to start taking certain additional extraordinary measures in order to prevent the United States from defaulting on i…

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