Treasury Secretary warned House Speaker the nation would soon no longer be able to meet its debts – as McCarthy said the White House needed to reach agreement this week to get any deal across the line in time. Yellen wrote McCarthy Monday about the Treasury's 'ability to continue to finance the operations of the federal government' having breached the statutory debt limit and exhausted extraordinary measures.She updated a her last estimate, saying that 'with an additional week of information now available, I am writing to note that we estimate that it is highly likely that Treasury will no longer be able to satisfy all of the government's obligations if has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1.'
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