US Treasury Secretary Janet Yellen’s warning that the US government could run out of cash as early as June 1 has sparked distrust among House Republicans. The Secretary’s view that the bank will default if things continue as they are is also questioned, a move that could undermine the urgency of raising the debt ceiling.
Treasury secretary warns U.S. is already paying the price for debt ceiling talks stalled
“I would like to see more transparency as to what led to the June 1 estimate,” House Republican Leader Scalis told reporters after a closed-door meeting on Thursday. He “looks like he’s taking out insurance at this stage so he can move the dates later,” he said.
Another congressman, who spoke on condition of anonymity about the Republican view, said that if the U.S. Treasury Department runs out of special measures before the debt ceiling is raised, it should first stop paying government employees.
U.S. Treasury Cash Balance
Source: U.S. Treasury Department
The Washington Post reported Wednesday that the U.S. Treasury Department has written to several government agencies asking if they have flexibility with some payments.
Original title:Republicans Question If X-Date Is as Close as Yellen Says It Is(excerpt)
2023-05-23 18:18:00
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