Treasury Secretary Janet Yellen told lawmakers on Friday that they would run out of money to pay the bills by June 5 unless the debt ceiling was raised.
Yellen told leaders, “Based on the most recent data available, if Congress does not raise or suspend the debt ceiling by June 5, the Treasury Department will not have the funds to meet the government’s obligations.” We estimate that there will be a shortage of
The update may give negotiators who have been working with a presumed June 1 “X date” in mind more leeway to reach a deal to raise the debt ceiling, but it also sets a tough deadline. will do.
At the time of Yellen’s letter, leaders had yet to announce a deal, despite weeks of struggling to overcome a major impasse.
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