Yellen Says Republican Debt Ceiling Plan ‘Risky and Dangerous’

Treasury Secretary Janet Yellen offered senators no assurance that a Republican plan to prioritize payment of the nation’s bills to avoid default could be achieved due to the size and complexity of the government’s payment operation.
“There is a reason that Treasury secretaries of both parties have rejected this incredibly risky and dangerous idea, and it’s never been tried before. I cannot give any assurances about the technical feasibility of such a plan,” Yellen told the Senate Finance Committee on March 16.
The Default Prevention Act, introduced by Rep. Tom McClintock (R-Calif.), would allow the government to continue paying high-priority obligations in the event the nation reached its statutory debt ceiling….}