"
Based on the most recent data, we estimate that the Treasury will have insufficient resources to meet government obligations if Congress does not raise the debt ceiling by June 5," U.S. Treasury Secretary Janet Yellen wrote in a letter to House Speaker Kevin McCarthy.
In the letter, Yellen recalled that in the first two days of June, payments of $130 billion will be sent to veterans and people enrolled in the Social Security and Medicare programs. A measure, warned the former governor of the Federal Reserve, that will leave the Treasury in an "extremely precarious" position regarding the availability of resources. Yellen called on all parties concerned to negotiate "in good faith" to obtain a compromise agreement as soon as possible to avoid default.
The US Treasury Secretary has therefore extended the deadline for raising the federal debt limit. Yellen said the government could default on June 5 without raising the country's debt ceiling of $31.400 trillion. Previously, Yellen had indicated that date as early as June, potentially as early as June 1.
handle
U.S. Congress Capitol Hill