Yellen Warns US Could Default by June 1 If Debt Limit Not Raised

The United States could default on its financial obligations as early as June 1 unless Congress takes action to raise the nation’s $31.4 trillion debt ceiling, according to Treasury Secretary Janet Yellen. Yellen announced the news in a letter to House Speaker Kevin McCarthy (R-Calif.) on May 1. “After reviewing recent federal tax receipts, our […]
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