Treasury Secretary Yellen Sounds Alarm on Debt Limit Deadline to McCarthy and Republicans

Objectivity 4.8 | Credibility 4.8 | Relevance 4.9


Treasury Secretary Janet Yellen, in a second letter with an alarmist tone to House Speaker Kevin McCarthy and other congressional leaders, reiterated her confidence in the June 1 estimation as the deadline to meet the nation’s debt obligations before defaulting.  However, a projection from Goldman Sachs gives more leeway of June 8, but the bank warned that “waiting for the last minute isn’t necessarily the right move.”  Following Monday’s debt limit talks between McCarthy and President Biden, the session failed to deliver a bipartisan agreement. McCarthy said, “I told him [President Biden] we’re not going to raise taxes because we bring in more money than we ever have. And we’re not going to pass a clean debt ceiling. Everything else is open for negotiations. But at the end of the day, it has to fit in that place.”