Janet Yellen
(WASHINGTON EXAMINER) – Treasury Secretary Janet Yellen has shifted the date the country could default to June 5, giving House Speaker Kevin McCarthy (R-CA) and the White House a few extra days of breathing room as the two inch closer to a deal to raise the debt limit.
Yellen had previously informed Congress the United States could be unable to pay all of its bills as soon as June 1, but with the caveat that her estimate was imprecise. She told McCarthy in a letter Friday that the "most recent data available" has led her to revise that date slightly.
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Even a few days could give negotiators major breathing room with less than a week left to meet the original deadline. The two sides have yet to reach an agreement, though one of McCarthy's deputies, Rep. Patrick McHenry (R-NC), told reporters Friday that talks are delicate but making progress.
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