Yellen: Balanced Budget Unnecessary to Create Fiscal Sustainability

Published on February 6, 2024

The federal government does not need to balance the budget to ensure the United States is on a fiscally sustainable path, Treasury Secretary Janet Yellen said to lawmakers. Appearing before the House Financial Services Committee on Jan. 6, Ms. Yellen was asked if the U.S. budget would ever be balanced over the next 50 years to ensure the country is on proper financial footing. “I don’t think the budget needs to be balanced,” she said during an exchange with Rep. Pete Sessions (R-Texas). “The U.S. budget does not need to be balanced to be on a fiscally sustainable path.” Ms. Yellen added that President Joe Biden’s deficit-reduction economic policy proposals would help “guarantee” the government is on a sustainable path by ensuring the national economy is growing....

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