The Treasury Secretary has long been warning of an impending US insolvency.
(Photo: Reuters)
Washington In the dispute over the US debt ceiling, Treasury Secretary Janet Yellen calls for a long-term solution. “It is imperative that Congress agree to raise or remove the debt ceiling so that the government can consistently meet its payment obligations,” Yellen wrote in a letter to senior congressmen. At the same time, the minister announced on Monday that an ongoing special program with restrictions on state payments would be extended until December 3. Among other things, this provides for the state to suspend its payments to certain pension funds in order to remain below the currently applicable upper debt limit.