Yellen Sounds Alarm on Default in New Warning to McCarthy on Debt Ceiling Deadlock

Yellen Sounds Alarm on Default in New Warning to McCarthy on Debt Ceiling Deadlock
Treasury Secretary Janet Yellen listens during an open session of a Financial Stability Oversight Council meeting at the Department of the Treasury in Washington on April 21, 2023. Alex Wong/Getty Images
Tom Ozimek
Updated:
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Treasury Secretary Janet Yellen has issued a renewed—and alarmist—warning to House Speaker Kevin McCarthy (R-Calif.) and other congressional leaders, reiterating her earlier position that the country could run out of money to pay its debt obligations as early as June 1, but this time around expressing more confidence in her dire prediction.

Yellen has repeatedly warned that the debt ceiling deadlock grinding on in Washington is pushing the country closer to the so-called X-date, when the Treasury Department’s bag of accounting tricks (known as “extraordinary measures”) runs out and the government faces the prospect of a debt default.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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