CBO warns of high risk for debt default in June.

The Congressional Budget Office has warned that there is a "significant risk" that the US federal government will not be able to pay all its obligations in the first two weeks of June if the debt limit remains unchanged. The forecast reinforces Treasury Secretary Janet Yellen's estimate and the agency's earlier warning that House Republicans and President Joe Biden may only have a few weeks to address the debt ceiling or unleash global economic and financial upheaval. Talks are underway between White House and congressional staffers.