Yellen believes that the United States will not be able to make it to June 15 without raising the national debt limit

US Treasury Secretary Janet Yellen said early June is a “hard deadline” for the federal government to raise its debt levels. She considers it unlikely that the country will be able to make it to the big tax payments due on June 15.

Ms. Yellen recalled in an interview NBCthat, in her opinion, the US will not be able to pay its obligations in early June, probably as early as June 1. The journalist asked the minister if Washington would be able to “hold out until June 15” without declaring a default, when more tax payments should come. “There is always uncertainty about tax revenue and spending. And so it’s hard to be absolutely sure about that, but in my estimation, the chances of reaching June 15th, being able to pay all of our bills, are pretty low,” Ms. Yellen replied.

“We take the debt ceiling seriously as a limitation on our ability to pay bills on time. And, in my opinion, if the debt ceiling is not raised, then there will be difficult choices to be made about which bills will remain unpaid, ”added the finance minister.

The White House the day before, May 21, declared about a “big step back” in negotiations on the national debt ceiling. The Joe Biden administration accused the Republican leadership of threatening default. Many Republicans (the party controls the House of Representatives) are reluctant to agree to a ceiling increase without budgetary reforms.

More about the situation – in the material “Kommersant” “Default is not as bad as it is painted”.

Leonid Uvarchev