Treasury faces hard deadline for debt limit as national security concerns loom.

Treasury Secretary Janet Yellen warned lawmakers that the US will run out of funds to pay its debts by "early June, and potentially as early as June 1." This is the latest notice from Yellen warning the nation risks defaulting as soon as the start of June and putting pressure on lawmakers to move quickly. Republicans are demanding spending cuts in exchange for raising the debt ceiling, and the two sides are far apart on a number of sticking points. Yellen continues to urge Congress to protect the full faith and credit of the United States by acting as soon as possible.