After dozens of standoffs with Congress over government spending in recent decades, Treasury Secretary Janet Yellen said Thursday that in her personal opinion, the United States should adopt a different system for national finances. Emphasising that it was her own opinion, not President Joe Biden's, Yellen said there are various alternatives for avoiding situations where the Treasury lacks the funds to pay its bills. In January, the US government ran up against its legal borrowing limit of USD 31.381 trillion, and the Treasury Department began implementing extraordinary measures to avoid missing payments on its bills. It's a predicament that has occurred nearly 80 times since 1960, she said.
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