{"id":1935157,"date":"2023-05-21T12:43:18","date_gmt":"2023-05-21T16:43:18","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-says-low-odds-of-u-s-paying-all-bills-past-mid-june-without-debt-ceiling-deal\/"},"modified":"2023-05-21T12:46:18","modified_gmt":"2023-05-21T16:46:18","slug":"yellen-says-low-odds-of-u-s-paying-all-bills-past-mid-june-without-debt-ceiling-deal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-says-low-odds-of-u-s-paying-all-bills-past-mid-june-without-debt-ceiling-deal\/","title":{"rendered":"Yellen: Slim Chance of U.S. Paying Bills After Mid-June Without Debt Ceiling Deal."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fyellen-says-low-odds-of-u-s-paying-all-bills-past-mid-june-without-debt-ceiling-deal%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1935157&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Treasury Secretary Janet Yellen Warns of Possible Default in June<\/h2>\n<p>Treasury Secretary Janet Yellen has given her most specific prediction to date regarding the United States&#8217; ability to pay its obligations without a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/we-have-to-de-weaponize-manchin-chides-schumer-for-hammering-republicans-after-debt-ceiling-vote\/\" title=\"\u2018We Have To De-Weaponize\u2019: Manchin Chides Schumer For Hammering Republicans After Debt Ceiling Vote\">debt ceiling deal<\/a>. During a Sunday appearance on NBC News, Yellen stated that mid-June is the likely time period when the US can no longer pay all its obligations. Talks between the White House and Congress appear to have hit a snag, and Yellen&#8217;s warning comes as a reminder of the potential consequences of failing to raise the debt ceiling.<\/p>\n<h3>What are the Consequences of a Default?<\/h3>\n<p>If Congress fails to increase the debt limit, it would cause severe hardship to American families, harm our <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-warns-of-debt-default-as-early-as-june-1\/\" title=\"Yellen Warns Of Debt Default As Early As June 1\">global leadership position<\/a>, and raise questions about our ability to defend our <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congressional-war-vets-warn-biden-against-shuttering-gitmo\/\" title=\"Congressional War Vets Warn Biden Against Shuttering Gitmo\">national security interests<\/a>. Yellen notified Congress last week that she still believes a default could happen as early as June 1. <\/p>\n<h3>What are the Extraordinary Measures?<\/h3>\n<p>The Treasury Department has been enacting \u201cextraordinary measures\u201d since January, when the United States hit its statutory limit of roughly $31.4 trillion. Yellen explained that these <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-says-low-odds-of-u-s-paying-all-bills-past-mid-june-without-debt-ceiling-deal\/\" title=\"Yellen: Slim Chance of U.S. Paying Bills After Mid-June Without Debt Ceiling Deal.\">measures involve taking<\/a> some funds that are invested in non-marketable government security, such as the Civil Service Retirement Fund, and leaving it in cash to conserve room under the debt ceiling to issue a debt to the market.<\/p>\n<h3>What Happens Next?<\/h3>\n<p>Yellen declined to state an exact date for when a default could happen, instead stressing that her assessment has not changed since last week. June is still the earliest a default could happen, she emphasized. Yellen also refused to divulge what bills the United States might first choose not to pay over others when asked by Todd. She stated that there can be no acceptable outcomes if the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tuesday-september-28th-2021\/\" title=\"Tuesday | September 28th, 2021\">debt ceiling isn\u2019<\/a>t raised, regardless of what decisions we make.<\/p>\n<ul>\n<li>What is the likelihood we can get to the June 15th tax receipts to avoid breaching the debt ceiling?<\/li>\n<li>Can you put a percentage on it?<\/li>\n<li>Is it 20%, 40%, something like that?<\/li>\n<\/ul>\n<p>\u201cThere\u2019s always uncertainty about tax receipts and spending,\u201d Yellen replied. \u201cAnd so it\u2019s hard to be absolutely certain about this, but my assessment is that the odds of reaching June 15th, while being able to pay all of our bills, is quite low.\u201d<\/p>\n<p>Yellen noted that the Congressional Budget Office also warned of there being a risk that the government will not be able to pay all of its debts at some point during the first two weeks of June without a debt limit solution.<\/p>\n<p>Stay informed with the latest news by downloading the Daily Wire app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen predicts that the US will be unable to meet its obligations without a debt ceiling deal by mid-June. Yellen made her most precise forecast yet during a Sunday interview on NBC News, as negotiations between Congress and the White House seem to be stalling.<\/p>\n","protected":false},"author":1588,"featured_media":1935158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[3905,10142,3846,3715,5487,27279,13194,20595,7238,5286],"class_list":["post-1935157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-bills","tag-ceiling","tag-chance","tag-deal","tag-debt","tag-mid-june","tag-paying","tag-slim","tag-u-s","tag-yellen"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1935157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1588"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1935157"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1935157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1935158"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1935157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1935157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1935157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}