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Posts tagged as “the June 1, 2023 ‘X-date”

Treasury Secretary Janet Yellen Announces U.S. Will Run Out of Money to Meet Its Obligations on June 5, 2023 Without Debt Limit Increase or Suspension

Treasury Secretary Janet Yellen announced that the U.S. will run out of money to meet its obligations on June 5, 2023, if Congress does not raise or suspend the debt limit. The House Freedom Caucus has demanded that Yellen provide documentation and data to back up her announcement. President Joe Biden and Republican lawmakers now have more time to reach an agreement on a budget deal that lifts the debt ceiling.