WASHINGTON - US Treasury Secretary Janet Yellen warned Tuesday that a US debt default could trigger another recession, as an October 18 deadline approaches.
Yellen has warned previously that after October 18, the United States will not have the funds to meet its obligations to creditors if Congress does not relax the legal debt ceiling. This year, reflecting the extraordinary acrimony in Washington, Republicans are refusing to vote for lifting the ceiling and vow even to block Democrats from passing a simple vote by themselves along party lines.
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