Biden Admin Warns States That Federal Debt Crisis Could Trigger Recession

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Individual: Ben Shapiro

Biden Admin Warns States That Federal Debt Crisis Could Trigger Recession

The White House has warned state governments that a potential failure of Congress to raise the debt limit would cause a nationwide recession.In 2019, Congress suspended the debt ceiling — a measure that stops the federal government from taking on a certain level of national debt — for two years. However, the policy’s expiration occurred at the beginning of August — prompting Treasury Secretary Janet Yellen to enact “extraordinary” cash saving me…