US could default on its debt as soon as June 1 if Congress doesn’t act, Yellen says

The United States might default on its responsibilities as quickly as June 1 if Congress does not resolve the financial obligation limitation prior to then, Treasury Secretary Janet Yellen stated Monday.

” After evaluating current federal tax invoices, our finest price quote is that we will be not able to continue to please all of the federal government’s responsibilities by early June, and possibly as early as June 1, if Congress does not raise or suspend the financial obligation limitation prior to that time,” Yellen composed in a letter to Home Speaker Kevin McCarthy.

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