Yellen Says Congress Raising Debt Ceiling Is Only Good Outcome

The video discusses the urgent issue of the U.S. debt ceiling, highlighting Wall Street's concerns about the approaching X date, potentially as soon as June 1st. It emphasizes that the only viable solution is for Congress to raise the debt ceiling, as failure to do so could lead to significant economic and financial damage. Historical context is provided, referencing a 2011 plan that was never approved. The focus remains on Congress's responsibility to act, as failure to do so could impair the U.S. credit rating and lead to default on obligations, something unprecedented since 1789.

What has been the historical frequency of Congress raising the debt ceiling since 1960?

What potential consequences does the speaker mention if Congress fails to raise the debt ceiling?