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Axios
Axios
Politics

Yellen rules out GOP plan to avert default on government debt

Republican Party Janet Yellen Social Security

Treasury Secretary Janet Yellen is ruling out a potential proposal from House Republicans that calls for triaging payments after the exhaustion of "extraordinary measures" to avoid default on the federal debt.

The big picture: The U.S. has reached its $31.4 trillion debt ceiling, the Treasury Department announced on Thursday, with no obvious deal in sight.

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