Breaking: The U.S. could become unable to pay all of its bills as soon as June 1 if Congress doesn't raise the debt ceiling, Treasury Secretary Janet Yellen said
House Republicans’ bill raising the nation’s borrowing limit in exchange for deep spending cuts passed recently. The bill is aimed at sparking negotiations with President Biden. Photo: Tasos Katopodis/Getty ImagesWASHINGTON—Treasury Secretary Janet Yellen said the U.S. government could become unable to pay all of its bills on time as soon as June 1 if Congress doesn’t first raise the debt limit.
President Biden on Monday invited the top Republicans and Democrats on Capitol Hill to meet next week to discuss raising the country’s roughly $31.4 trillion borrowing limit, the White House said soon after Ms. Yellen’s warning.
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