“I respectfully urge Congress to act promptly to protect the full faith and credit of the United States,” Yellen wrote in the letter.

Congressional battles over the U.S. debt limit allow the press to indulge apocalyptic fantasies. Some claim that a delay in raising the debt limit could cause a “ global economic collapse” or would be equivalent to a “ nuclear war.”

.@judgeglock: "What is unprecedented is the size of our debt and the seeming unwillingness of politicians to do anything about it." https://t.co/OPPBMkP3BC

— Manhattan Institute (@ManhattanInst) February 12, 2023