U.S. Treasury Secretary Janet Yellen said on Sunday that it will be lawmakers' responsibility to raise the federal debt limit and expressed confidence that Congress would do so after the temporary reprieve runs out on Dec. 3.
U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing on Capitol Hill in Washington, D.C., U.S., June 23, 2021. Greg Nash/Pool via REUTERS/File Photolawmakers' responsibility
"Once Congress and the administration have decided on spending plans and tax plans, it's simply their responsibility to pay the bills that result from that," Yellen told ABC's "This Week" program. "It's a housekeeping chore. Because really, we should be debating the government's fiscal policy."on Thursday that will allow the United States to avoid defaulting on its bills through Dec. 3.
She ruled out invoking the 14th Amendment of the U.S. Constitution, which says the validity of U.S. public debt "shall not be questioned." Some Democrats have argued that this could be used to invalidate the debt ceiling, but it would entail a legal fight that would likely go to the Supreme Court.
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