The secretary of the United States Treasury, Janet Yellen, has said the government will run out of funds to cover its financial obligations by June 5 if the current spending limit of $31.4 trillion is not raised before then.
Yellen’s announcement, which came in the form of a letter to the US Congress on Friday, pushes back the deadline for a potential default from an earlier estimate that the Treasury could run out of cash as soon as June 1.
