Yellen Shifts Debt Default Date To June 5
REUTERS/Evelyn Hockstein
DAILY CALLER NEWS FOUNDATION
Arjun Singh
Contributor
May 26, 2023 5:17 PM ET
Treasury Secretary Janet Yellen has extended the probable date that the U.S. will default on its sovereign debt payments absent legislation from Congress to raise the debt ceiling, according to a letter she wrote on Friday.
Yellen’s letter, addressed to House Speaker Kevin McCarthy, says that the Treasury now estimates the U.S. will default on its debt on June 5 unless a bill to raise the debt ceiling is passed, which is currently being negotiated between President Joe Biden and McCarthy. The new date is a revision from her earlier estimation of June 1 as the default date, per a letter she sent McCarthy on May 1. (RELATED: ‘Outrageous’: Freedom Caucus Demands McCarthy Hold The Line On Debt Ceiling Talks)
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READ MORE: https://dailycaller.com/2023/05/26/yellen-extends-default-date-june-5/
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