Yellen again warned Congress about the risks of default on June 1 – Kommersant
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US Treasury Secretary Janet Yellen again sent a letter to the leaders of Congress stating that the authorities will not be able to fulfill their obligations by June 1 without increasing the national debt limit.
“We continue to believe that the Treasury Department is likely to be unable to meet all government obligations unless Congress takes action to raise or suspend the debt ceiling by early June and potentially by June 1,” Ms. Yellen (quoted by AFP).
The Treasury Secretary already sent a similar letter to Congressional leaders in early May. Many Republicans oppose increasing the level of public debt without budgetary reforms. The Republican Party controls the lower house of Congress, the House of Representatives. US President Joe Biden ready to discuss with Congress spending cuts, but “not at risk of default”. May 13 he informed progress in the negotiations.
More about the situation – in the material “Kommersant” “Default is not as bad as it is painted”.
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