Biden administration warns House GOP about debt ceiling deadlines
The U.S. government will reach its debt limit on Jan. 19 and initiate so-called "extraordinary measures" to avoid default, Treasury Secretary Janet Yellen told House Speaker Kevin McCarthy in a letter Friday.
Why it matters: House Republicans are interested in using debt ceiling negotiations to cut spending, but Yellen said Treasury's extraordinary measures could last until the summer.
"We've got to change the way we're spending money wastefully in this country. And we're going to make sure that happens," House Speaker Kevin McCarthy told reporters on Thursday.
Asked about entitlement...