Yellen warns of potential US debt default by June 1.
TL;DR Summary
The US could default on its debt as early as June 1 if Congress doesn't address the debt limit before then, according to Treasury Secretary Janet Yellen. This increases pressure on President Joe Biden and House Republican lawmakers to ramp up their debt ceiling discussions. Yellen warned that if Congress fails to increase the debt limit, it would cause severe hardship to American families, harm the country's global leadership position, and raise questions about its ability to defend national security interests.
- US could default on its debt as soon as June 1 if Congress doesn't act, Yellen says CNN
- U.S. Could Run Out of Cash by June 1, Yellen Warns The New York Times
- Yellen says US could default as soon as June 1 WGN News
- 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
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