U.S. Treasury Secretary Janet Yellen says the government could default on its debt “as early as June 1.' debtceiling
U.S. Treasury Secretary Janet Yellen has warned that the Treasury will not be able to pay all of the government’s debt “as early as June 1, if Congress does not raise or suspend the debt limit before that time.” Yellen also cautioned that the U.S. defaulting on its debt obligations “would produce an economic and financial catastrophe.”United States Secretary of the Treasury Janet Yellen warned Monday that the U.S.
She clarified that the Treasury Department’s estimate of when it could default on the government’s debt obligations is “based on currently available data,” noting that “It is impossible to predict with certainty the exact date when Treasury will be unable to pay the government’s bills.” Emphasizing that “waiting until the last minute” to take action “can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States,” Yellen warned:
Because tax receipts through April have been less than the Congressional Budget Office anticipated in February, we now estimate that there is a significantly greater risk that the Treasury will run out of funds in early June.
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Treasury Secretary Yellen moves up debt ceiling deadline to early JuneThe IRS brought in less taxes than expected this year, and the Treasury says it may run out of funds as early as June 1.
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Treasury Secretary Janet Yellen says US could hit debt ceiling as soon as June 1In a letter Monday to House and Senate leaders, Yellen urged Congress “to ... act as soon as possible” to address the $31.4 trillion limit on its legal borrowing authority.
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Treasury Secretary Janet Yellen says US could hit debt ceiling as soon as June 1Treasury Secretary Janet Yellen notified Congress on Monday that the U.S. could default on its debt as early as June 1, if the body does not raise or suspend its statutory borrowing authority before then.
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Treasury's Yellen says US could default as soon as June 1Treasury Secretary Janet Yellen has notified Congress that the U.S. could default on its debt as early as June 1, if legislators do not raise or suspend the nation’s borrowing authority before then and avert what could potentially become a global financial crisis.
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Treasury's Yellen says US could default as soon as June 1Treasury Secretary Janet Yellen has notified Congress that the U.S. could default on its debt as early as June 1, if legislators do not raise or suspend the nation’s borrowing authority before then and avert what could potentially become a global financial crisis. In a letter Monday to House and Senate leaders, Yellen urged congressional leaders “to protect the full faith and credit of the United States by acting as soon as possible” to address the $31.4 trillion limit on its legal borrowing authority. She added that it is impossible to predict with certainty the exact date of when the U.S. will run out of cash.
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Yellen warns U.S. could default on debt as early as June 1BREAKING: The U.S. could default “as early as June 1” if Congress doesn’t raise the debt limit, Secretary Yellen warns.
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