Treasury Secretary Janet Yellen said the US is unlikely to make it to mid-June and still be able to pay its bills, underscoring the urgency for the White House to reach a deal with Republicans to increase the debt ceiling.
“Well, there’s always uncertainty about tax revenues and expenditures,” Yellen said on NBC’s “Meet the Press” Sunday. “And so it’s hard to be absolutely certain, but my assessment is that the odds of reaching June 15 and still being able to pay all our bills are quite low.”
Yellen previously said the United States could lose its ability to pay all its bills by June 1, putting the country at risk of catastrophic default. While tax payments are due in mid-June, getting to that date is the problem, she told NBC.
“On June 15, there are tax payments that are significant,” she said. “But at the beginning of June, I interpret like before that, and it would be very difficult to arrive at this date.”