US could default by next month – Treasury ...News

The nation officially hit its $31.4 trillion debt ceiling in January US Treasury Secretary Janet Yellen warned on Monday that the federal government could run short of cash to pay its bills as soon as next month without a debt limit increase. “After reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time,” Yellen wrote in a letter to House and Senate leaders. She urged congressional leaders “to protect the full

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