Treasury Secretary Janet Yellen said Monday that the deadline to extend the debt ceiling or face the first U.S. default could be as early as June 1, adjusting the timeline as the path to avert a self-inflicted crisis remains murky on Capitol Hill.
“After reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time,” Yellen wrote in a letter to Congress.
