Treasury Secretary Yellen will be in Switzerland this week as the U.S. is expected to hit its debt limit Thursday, which will stop it from borrowing any more until Congress acts.
On Friday, Treasury Secretary Janet Yellen warned that unless Congress takes swift action, the government could be unable to pay its bills as early as June.
In a letter addressed to the big four congressional leaders, Yellen said the Treasury Department will begin deploying so-called"extraordinary measures" to prevent the U.S. fromThe emergency moves should give Congress until at least early June to raise or suspend the country's current $31.4 trillion borrowing limit, she added."Failure to meet the government’s obligations would cause irreparable harm to the U.S.
"I respectfully urge Congress to act promptly to protect the full faith and credit of the United States," said Yellen. A spokesperson for the Department of the Treasury did not immediately respond to Fox News Digital's request for comment.Kelly Laco is a politics editor for Fox News Digital. Get the latest updates from the 2024 campaign trail, exclusive interviews and more Fox News politics content.
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