White House warns hitting debt limit could cause recession

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A common view of the White Home in Washington, U.S. July 15, 2021. REUTERS/Jonathan Ernst/File Picture

WASHINGTON, Sept 17 (Reuters) – The White Home warned on Friday {that a} failure by the U.S. Congress to increase the debt restrict may plunge the economic system right into a recession and will result in cuts in important state providers.

“Financial development would falter, unemployment would rise, and the labor market may lose hundreds of thousands of jobs,” the White Home mentioned in a reality sheet.

Reporting By Steve Holland
Enhancing by Chizu Nomiyama


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