The U.S. is still projected to breach the debt ceiling as early as June 1, Treasury Sec. Yellen reiterated in a new letter to Congress.
as early as June 1, Treasury Secretary Janet Yellen reiterated in a new letter to Congress on Monday afternoon.first-ever debt default“With additional information now available, I am writing to note that we still estimate that Treasury will likely no longer be able to satisfy all of the government’s obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1," Yellen wrote in the letter.
“It doesn’t seem to me yet that they want a deal,” he said, referring to Democrats and the White House. “It seems like they want to look like they’re in a meeting. … They’re not talking anything serious.” “It never is good to characterize a negotiation in the middle of the negotiation,” Biden told reporters on Sunday. “I remain optimistic because I’m a congenital optimist, but I really think there’s a desire on their part as well as ours to reach agreement. I think we’ll be able to do it.”and has since been using"extraordinary measures" to pay the bills. The Treasury Department has consistently given a timeline of early June for Congress to act or risk breaching the debt ceiling.
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