Yellen sets June 5 as deadline for US debt repayment

File – March 16, 2023, Washington, District of Columbia, USA: United States Secretary of the Treasury Janet Yellen appears before a Senate Finance Committee hearing at Dirks to review the President’s proposed budget request for fiscal year 2024 – Europa Press/Contact/Rod Lamkey – Archive


US Treasury Secretary Janet Yellen warned this Friday that if Congress does not address the debt limit before June 5, the US Treasury Department will not have sufficient funds to pay all of the country’s obligations in full and on time.

“Based on the most recent data available, we estimate that the Treasury will not have sufficient resources to meet the Government’s obligations unless Congress raises or suspends the debt limit before June 5,” he wrote in a letter to House Speaker Kevin McCarthy. and other congressional leaders elected by CNN.

That same week, Yellen warned that the so-called “X date” would come at the beginning of June, when the country could no longer pay its debts, even going so far as to say it could be June 1. , but warned me I’ll try to give a more precise date.

Some Republicans in Congress have questioned Yellen’s forecasts, particularly through June 1, saying she should have been more transparent with her forecasts.

Source: Noti Merica

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