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Post: Treasury Secretary Confirms Estimated Default Date


US Treasury Secretary Janet Yellen. archive photo

Yellen reaffirms June 1, the US default date, and calls for raising the debt ceiling

WASHINGTON, May 15 RIA News. US Treasury Secretary Janet Yellen confirmed the estimated default date of June 1 and urged Congress to immediately raise the national debt ceiling. This is specified letter overseeing the deputies.

“The Treasury Department will no longer be able to meet all of the government’s obligations, most likely at the beginning of June, and potentially by June 1,” Yellen warned.

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According to him, the creditworthiness of the United States can be preserved by raising the debt ceiling immediately.

The U.S. Treasury notified Congress in January that “extraordinary measures” had begun in connection with reaching the estimated national debt ceiling of $31.381 trillion. The White House is asking lawmakers to raise it unconditionally, and the Republican opposition-controlled House of Representatives attributes the move to spending cuts.

Meanwhile, Yellen stressed that without a decision on the national debt, the government cannot continue to fulfill all its obligations until 1 June.

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Source: Ria

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