Salem Radio Network News Monday, November 29, 2021

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Yellen warns of potential U.S. default in mid-December

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Treasury Secretary Janet Yellen has told Congress that she believed she would run out of maneuvering room to avoid the nation’s first-ever default soon after December 15

VERBATIM:

In a letter to congressional leaders, Yellen said that she believed Treasury could be left with insufficient resources to keep financing the government beyond December 15. Yellen’s new date is slightly later than the December third date she provided to Congress in a letter to Congress on October 18. That letter was based on the fact that Congress had just passed a $480 billion increase in the debt limit as a stop-gap measure.

 

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