In a letter, Janet Yellen said the federal government will likely run out of money to meet its obligations on October 18, unless Congress raises the debt ceiling.
247 – US Treasury Secretary Janet Yellen said Thursday (30) that the federal government will likely run out of money to meet its obligations on October 18, unless Congress raises the debt ceiling.
“It is uncertain whether we will be able to continue to meet all of the country’s obligations beyond that date,” Yellen said in a letter to US lawmakers, adding that the forecast is based on estimated tax payments.
A default would be potentially catastrophic, flooding markets and the economy and delaying payments for millions of Americans.
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