America... "Deadline" to Raise the Debt Ceiling

U.S. Treasury Secretary Janet Yellen confirmed on Sunday that June 1 remains a "hard deadline" to raise the federal debt ceiling, amid slim chances that the government will collect enough revenue to meet its obligations until June 15, the due date for more tax revenues. Yellen added in a press interview that there will be tough choices if Congress fails to raise the debt ceiling of $31.4 trillion before the Treasury runs out of money. She further stated, "I indicated in my last letter to Congress that we expect to be unable to pay all our bills in early June, potentially on the 1st. I will continue to keep Congress updated, but I certainly have not changed my assessment. Therefore, I believe this is a hard deadline."