Janet Yellen Warns of Debt Ceiling Catastrophe

US Treasury Secretary Janet Yellen has warned a failure to raise the US debt ceiling could have dire consequences. <br />Ms Yellen says debt ceiling negotiations should not occur with a gun to the head of the American people.<br />President Biden will meet Republican leaders to ask them to agree to raise the current $31.4tn limit. <br />President Biden wants Congress to agree to raise the debt ceiling, with no conditions. President Biden says he will not negotiate over the increase and will discuss budget cuts after the issue is resolved.