US may risk debt default 'as early as June 1': Yellen

The United States could run out of funds to pay its debt obligations — triggering a catastrophic default — as early as the start of June, Treasury Secretary Janet Yellen said Monday, as policymakers tussle over raising the debt ceiling.

Last week, the Republican-led House of Representatives voted to lift the national borrowing limit, but only with drastic cuts as they sought a showdown with President Joe Biden, a Democrat, over what they see as excessive spending.

Legit : Read More