Janet Yellen Warns of Dire Consequences if Debt Ceiling Agreement is Not Reached

The debate over the debt limit is reaching a boiling point as the deadline to reach a new agreement approaches. The U.S. Treasury Secretary Janet Yellen has warned that failure to reach a new agreement could have dire consequences for the economy.

House Minority Leader Kevin McCarthy has been trying to find a way to break the deadlock, but he has been met with resistance from both sides of the aisle. Meanwhile, the opinion pieces in The New York Times have been urging both parties to find a way to avoid the economic disaster that could result from a breakdown in negotiations.

INFORUM’s column by Brian Port has suggested that Republicans are trying to use the debt limit debate as a political tool to gain leverage. He argues that they don’t actually care about the national debt, and that they are only using it as a bargaining chip.

It remains to be seen what will happen next in the debt limit debate, but it is clear that the consequences of failure to reach a new agreement could be dire. With the deadline looming, all eyes are on the negotiations to see if an agreement can be reached.

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