Debt default looms as Yellen sets hard deadline for Congress.
TL;DR Summary
Treasury Secretary Janet Yellen has warned Congress that the US Treasury may not be able to pay all of its bills in full and on time as soon as June 1 if Congress does not act to raise or suspend the debt limit. Yellen wrote in a letter to House Speaker Kevin McCarthy that it is "highly likely" that the nation will default on its obligations if action is not taken by early June, potentially as early as June 1.
- Yellen warns Congress again that default could be just days away CNN
- Full Yellen: Early June is 'a hard deadline' for the debt limit NBC News
- Debt ceiling: Washington grapples with ‘hard choices’ if no deal is in place by June 1 Yahoo Finance
- The Biden administration technocrats fending off a debt-limit catastrophe POLITICO
- 'Some bills have to go unpaid' if debt limit isn't raised, says Treasury Sec. Yellen NBC News
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