If Congress does not address the debt ceiling by June 5, the US Treasury Department will not have enough funds to pay all of the nation's obligations in full and on time, Treasury Secretary Janet Yellen said Friday.Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government's obligations if Congress has not raised or suspended the debt limit by June 5, she wrote in a letter to House Speaker Kevin McCarthy and other congressional leaders.
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