Yellen warns U.S. will run out of money on June 5

Posted on AllSides May 26th, 2023
From The Left
Alex Wong/Getty Images

Treasury Secretary Janet Yellen has given Congress a more precise date — June 5 — for when the U.S. government will hit the debt ceiling and run out of money to pay its bills.

Why it matters: Yellen's previous warnings estimated the U.S. would hit the so-called X-date as early as June 1, but her latest letter provides a firmer deadline as lawmakers and the White House work to avoid a damaging debt default.

What they're saying: "Based on the most recent available data, we now estimate that Treasury will...

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https://www.axios.com/2023/05/26/yellen-warns-that-us-will-run-out-of-money-on-june-5

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