A default in the United States due to the exhaustion of the Treasury Department’s ability to service the public debt could occur on June 5, and not on June 1, as previously expected. Treasury Secretary Janet Yellen made the corresponding statement in a letter to the leadership of the US Congress.
“Because of the new data, I hasten to note that we believe the following: The Treasury Department is unlikely to be able to meet all government obligations by June 5th unless Congress takes steps to raise or suspend the debt ceiling,” he said. in the document.
According to Yellen, the leadership of Congress must resolve the issue of the national debt ceiling as soon as possible. The Minister also added that she would continue to provide the legislator with updated data on the current situation.
A week ago, US President Joe Biden said America would avoid default. However, the Head of State did not specify how she would proceed.
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