The letter added a new sense of urgency to stalled negotiations between President Joe Biden and McCarthy's Republican majority in the House.
The U.S. could fail to meet its debt obligations sooner than expected, Treasury Secretary Janet Yellen warned in a letter to House Speaker Kevin McCarthy.
In light of the new, earlier estimate, President Joe Biden invited the"big four" congressional leaders to a May 9 meeting at the White House to discuss the debt limit.that the United States may run out of measures to pay its debt obligations by June 1, earlier than the government and Wall Street had been expecting.
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