Janet Yellen warns if debt ceiling isn't raised in just over a week, U.S. could face default
CBSN
Treasury Secretary Janet Yellen warned Congress in a letter Monday that the U.S. government might not be able to pay the bills in just over a week — as early as June 1 — if Congress does not act to raise or suspend the debt ceiling.
Her letter came as President Biden and House Speaker Kevin McCarthy were to meet at the White House to continue negotiations over a debt limit deal, amid escalating concerns that the U.S. could default on the nation's debts for the first time if Congress does not act in time.
"With an additional week of information now available, I am writing to note that we estimate that it is highly likely that Treasury will no longer be able to satisfy all of the government's obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1," Yellen wrote Monday.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
New York — At the Museum of Illusions in New York City, around every corner is a wonder for the eyes. There's a vase that's a face, art that moves with you, and a room that seems to go on forever.
The U.S. Centers for Disease Control and Prevention is now urging summer camp operators to check for documentation of immunity from measles through vaccination or prior infection for all children, staff and volunteers, amid a deadly year of outbreaks that is now near record levels.
Trump's military parade tomorrow isn't the first in the U.S. — but they're rare. Here's a look back.
Washington — President Trump is hosting a parade celebrating the 250th anniversary of the U.S. Army on Saturday, bringing tanks and soldiers to the streets of Washington, D.C., for the capital's first major military parade in more than three decades.
"No Kings" merchandise is cropping up for sale on Amazon, Temu and other online retailers ahead of the planned nationwide protests against the Trump administration scheduled for Saturday.
Ford CEO Jim Farley said that a rare earth minerals shortage is hurting production and caused the automaker to temporarily shut down one of its plants last month, according to an interview with Bloomberg TV.
We may receive an affiliate commission from anything you buy from this article.
The new COVID-19 variant NB.1.8.1, which was linked to a large surge of hospitalizations in parts of Asia, could now make up more than 1 in 3 cases across the United States, the Centers for Disease Control and Prevention projected this week.
Washington — President Trump intends to open the Iowa State Fair on the first day of the 11-day event in August, according to sources familiar with the plan, revisiting a presidential campaign ritual in a state that helped deliver his return to the White House.
A military parade through the streets of Washington, D.C., is being held to celebrate the U.S. Army's 250th anniversary on Saturday, June 14 — which also happens to be President Trump's 79th birthday. Army officials say about 6,600 soldiers, 150 vehicles and more than 50 aircraft are set to participate.
President Trump on Friday lost his latest effort to get a retrial in the case in which a jury found him liable for sexual abuse and defamation of the writer E. Jean Carroll.
Washington — A federal judge in Massachusetts blocked President Trump's administration from implementing portions of his executive order that imposed new requirements involving proof of citizenship to register to vote in U.S. elections.
A 15-year-old girl in Arkansas died Wednesday after a pack of dogs she was caring for attacked her, authorities said.
Tesla on Friday announced it's launching new versions of its Model S and Model X vehicles in the U.S., with new price tags to match.