United States could run short of cash to pay bills by June 1, Warns Treasury Janet L Yellen; Joe Biden calls meeting on debt ceiling
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United States Secretary of the Treasury Janet L Yellen has warned Congress that the country could run out of cash to pay its bills by June 1. In a letter to members of Congressional leadership regarding debt limit, Yellen said that the US will be unable to continue to satisfy all of the government's obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time.
