As the White House and congressional negotiators fail to stop the U.S. from hurtling toward an economically "catastrophic" default, a labor union representing nearly 75,000 government workers on Friday asked a federal court to take emergency action.
Treasury Secretary Janet Yellen has warned that if Congress doesn't raise the debt ceiling—which House Speaker Kevin McCarthy (R-Calif.) and other GOP lawmakers refuse to do without spending cuts targeting working people—the government could run out of money to pay its bills as early as June 1.
