Yellen lends support for effort to remove the debt ceiling altogether

From cnbc.com

With a potential default looming for the U.S. in October, Treasury Secretary Janet Yellen said Thursday she would just as soon see the power over debt limits taken away from Congress. A bill introduced in May would repeal the national debt ceiling, and Yellen said “yes, I would” when asked during a House hearing if she backs the effort. She noted that Congress makes the decisions on taxes and spending, and should provide the ability to pay those obligations. “If to finance those spending and tax decisions, it’s necessary to issue additional debt, I believe it’s very disruptive to put the president and ... (full story)