Watch CBS News

Treasury Secretary: U.S. could default as early as June 1

Treasury Secretary Janet Yellen says the U.S. could run out of cash to pay its bills as soon as next month. In a letter sent to lawmakers Monday, Yellen said, "we will be unable to continue to satisfy all of the government's obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time." CBS News congressional correspondent Scott MacFarlane has more.
View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.