The impasse has raised the possibility of Congress and the White House overseeing the first national debt default. theSun theSundaily whitehouse congress WorldNews
: The United States could run out of money to pay its financial obligations – risking a catastrophic default – as early as the start of June, Treasury Secretary Janet Yellen said yesterday, as policymakers tussle over raising the debt ceiling.
The impasse has raised the possibility of Congress and the White House overseeing the first national debt default. But if the debt ceiling is not raised or suspended before current tools are exhausted, the government risks defaulting on payment obligations, with profound implications for the economy. As head of the narrow Republican majority in the House, McCarthy has primary control over US budget issues.
In an earlier letter, Yellen said it was unlikely that cash and extraordinary measures would run out before early June.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Wage issue to be settled by June’PUTRAJAYA: The issue surrounding the implementation of the minimum wage will be settled “once and for all” by next month, says Datuk Seri Anwar Ibrahim.
Read more »
US to run short of cash on June 1 without debt ceiling hike: TreasuryThe US Treasury’s warning on Monday prompted President Joe Biden to summon the top four congressional leaders to the White House to try to avert a fiscal crisis. theSun theSundaily whitehouse fiscalcrisis WorldNews
Read more »
‘Wheelie’ rider pleads guiltyHe is freed on bail pending the re-mention of his case on June 20.
Read more »
Marcos to forge ‘stronger relationship’ with US during visitThe Philippine president is making a four-day official visit to Washington on Monday.
Read more »
Biden calls for meeting as US to run short of cashThe US Treasury believes it will be unlikely to meet all government payment obligations by early June.
Read more »
From watermelon to weed: Thai farmers regret switching to cannabis as prices fallWhen Thailand legalised cannabis for medical use in June 2022, thousands rushed to stake their claim, including small-time farmer Tukta Sinnin.
Read more »