Strange Sounds
May 4, 2023
The Treasury Department warned lawmakers on Monday that without congressional action to lift or suspend the debt limit, the country will be unable to pay its obligations as soon as June 1.
In a letter to House Speaker Kevin McCarthy (R-CA), Treasury Secretary Janet Yellen urged Congress to resolve the current brinkmanship over the federal borrowing limit, warning that waiting until the last minute could have adverse impacts on the economy and the nation’s credit rating.