The update buys much-needed time for debt ceiling negotiators to hammer out a deal
Treasury Secretary Janet Yellen on Friday issued a new letter to Congress estimating that the government won’t be at risk of running out of money to pay all its bills until June 5 — slightly later than the agency’s previous estimate of as soon as June 1.
«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,» Yellen wrote.
Republicans questioned Yellen’s methodology, with some accusing her of «manipulation tactics.»
«June 5? Yellen said it was June 1 earlier this WEEK. Republicans won’t be intimidated by her manipulation tactics,» tweeted Rep. Andy Biggs.
«Will the media join our efforts to demand Janet Yellen show her work? I have been asking for three months,» said Rep. Bob Good.
As he headed to Camp David on Friday evening, President Joe Biden sounded optimistic about negotiations and hopeful that more progress will come into the night.
«There’s a negotiation going on. I’m hopeful we’ll know by tonight whether we are going to be able to have a deal,» Biden said
«Things are looking good.
