NEW: Treasury Secretary Janet Yellen says early June is a 'hard deadline' for the federal government to raise the debt ceiling.
and warned that bills will go unpaid if Congress fails to reach a deal before the U.S. runs out of money in an exclusive interview on “Meet the Press.”
Asked by NBC News' Chuck Todd if the country can stretch to June 15 before defaulting on its debts, Yellen said the possibility is"quite low." Biden has continued to track negotiations on a bipartisan budget framework and pressing the need for Congress to act to avert default while he attends the G-7 summit in Japan, a White House official told reporters Saturday.The president has directed his team to coordinate with House Speaker Kevin McCarthy, R-Calif., to schedule a call for Sunday morning following his meetings at the G-7, the official said.
“It’s time for Republicans to accept that there is no bipartisan deal to be made solely solely on their partisan terms,” he said. “They have to move as well.”
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