U.S. Treasury Secretary Janet Yellen addressed the debt ceiling and the collapse of Silicon Valley Bank while testifying before the House on Friday. See potential bias and similarities in coverage from Reuters, CBSNews, and FoxBusiness:
. Yellen previously indicated the treasury can enact “extraordinary measures” to pay the government’s bill until the summer, at which point the government faces a potential debt default. Speaking on the U.S. reaching the debt ceiling, Yellen said, “in my assessment - and that of economists across the board - a default on our debt would trigger an economic and financial catastrophe.
” Addressing a Republican proposal to prioritize certain payments, Yellen said, “prioritization is simply not paying all of the government's bills when they come due,” adding that “we're kidding ourselves because not paying the government's bills will produce economic and financial collapse.
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