Secretary Yellen calls for permanent end to debt limit

Treasury Secretary Janet Yellen, Thursday, called for an ultimate end to the federal debt ceiling altogether and shot the idea raised by down lawmakers of minting a USD 1 trillion coin to avoid defaulting on the debt.
Yellen described the debt limit as “very destructive” during the House’s before the Committee on Financial Services. The hearing came amid debate in Congress on whether to raise the debt ceiling before the U.S. government runs out of money.