Yellen's estimate that U.S. could run out of money to pay the bills holds at possible June 1 date
CBSN
Treasury Secretary Janet Yellen updated her guidance Monday on when the United States could run out of money to pay the bills, warning congressional leaders that the nation could default as soon as June 1, the same date she projected in her letter to Congress two weeks ago.
White House and congressional leaders only recently started negotiating over the debt limit, but a deal has not yet been reached, and now that June 1 date is just two weeks away.
"[W]e still estimate that Treasury will likely 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.
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