Yellen: McConnell Could Cause Catastrophic Financial Crisis with Debt Ceiling Brinkmanship

Yellen: McConnell Could Cause Catastrophic Financial Crisis with Debt Ceiling Brinkmanship


Treasury Secretary Janet Yellen said Sunday on ABC’s “This Week” that if Senate Minority Leader Mitch McConnell’s (R-KY) followed through on his threat that Republicans would not help to raise the debt ceiling in December, there could be a financial crisis.

Anchor George Stephanopoulos said, “We all dodged a bullet this week. Senator McConnell has warned President Biden that Republicans won’t help next time on the debt limit. I want to read part of his letter to President Biden. Quote, ‘I will not be a party to any future effort to mitigate the consequences of Democratic mismanagement. Your lieutenants on Capitol Hill now at the time they claim they lack to address the debt ceiling through stand-alone reconciliation and all the tools to do it.’

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