Yellen Warns of June 1 Deadline for U.S. Debt Ceiling
TL;DR Summary
Treasury Secretary Janet Yellen has warned that the United States could run out of money to pay its bills by June 1 if Congress does not raise or suspend the debt limit, putting pressure on President Biden and lawmakers to reach a swift agreement to avoid defaulting on the nation’s debt. Economists have warned that failure to raise the debt limit, which caps the total amount of money the United States can borrow, threatens to rock financial markets and throw the global economy into a financial crisis.
- U.S. Could Run Out of Cash by June 1, Yellen Warns The New York Times
- The U.S. could hit the debt ceiling by June 1, much sooner than expected, Yellen warns CNBC
- U.S. debt ceiling must be raised or suspended by June, Treasury says The Washington Post
- US could default on its debt as soon as June 1 if Congress doesn't act, Yellen says CNN
- Yellen says drop-dead date for debt ceiling is June 1 The Hill
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