Treasury Secretary Janet Yellen sent a letter to congressional leaders warning the U.S. would not have the money to make its payments on June 5. See potential bias and similarities in coverage from thehill, FoxBusiness, and axios:
Treasury Secretary Janet Yellen revised previously estimated dates for when the United States would default on its debts, setting a hard deadline of June 5 for the White House and Congress to reach a deal to raise or suspend the debt ceiling to avoid a default., Yellen stated, “Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5.
” With an expected payment amount totaling $92 billion due in the week of June 5, Yellen warned the Treasury’s resources would be “inadequate to satisfy all of these obligations.” Yellen again warned of the “severe hardship” on American families and the nation's global standing should the payments be missed, urging congressional leaders to act to “protect the full faith and credit of the United States.
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