
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.

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.

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.