Washington – Treasury Secretary Janet Yellen has warned that if the US Congress does not raise the debt ceiling, the administration’s funds may run out by June 1. ‘We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States,’ Treasury Secretary Yellen said in a letter to Congress.
The Congressional Budget Office (CBO), a study group in the US Congress, has also made aware that the US treasury may become empty at the beginning of June. While Yellen’s letter was released, President Joe Biden announced that he would hold talks with frontline Congressional leaders on Tuesday, May 9. The US Congress had set a debt ceiling of $31.4 trillion in December 2021. The debt limit set by Congress has exceeded on January 19, 2023.
Related posts:
Secret Senate report will exonerate Saudi Arabia: CIA chief
European Union is worse than China, claims President Trump
‘Church of Satan’ receives official recognition in Arkansas in the US
US ready to hold talks with Iran with no preconditions: US Secretary of State Mike Pompeo
US bans Chinese passenger airliners
US will face unacceptable levels of inflation for some time – Secretary of Treasury Janet Yellen
US criticises OPEC on the issue of Oil Cuts – Saudi Arabia & UAE demand US withdrawal of deployment
US may become a ‘defaulter’ if it doesn’t raise debt limit – US Treasury Secretary, Janet Yellen
