On the recordMarch 22, 2023
not paying any of our bills is default.
Said by
Janet L. Yellen
Source
congress.govnot paying any of our bills is default.
Yellen emphasizes that failing to pay all bills constitutes a default.
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I am heartened that Congress passed crucial support for Ukraine and for other allies.
this has never been tried. It has been rejected by all past Treasury secretaries.
It is a fundamental, basic responsibility of Congress to pay the Government's bills.
The failure to raise the debt ceiling would cause an economic and financial catastrophe.