The current borrowing limit is a constraint on Washington’s ability to make good on obligations coming due, Janet Yellen says America’s chances of paying its bills after June 1 are “quite low,” US Treasury Secretary Janet Yellen warned on Sunday in an interview with NBC’s ‘Meet the Press’. According to Yellen, if Congress fails to reach an agreement on raising the country’s $31.4 trillion borrowing limit by that time, it will be forced to default on “some bills” shortly after. “There’s always uncertainty about tax receipts and spending. And so it’s hard to be absolutely certain about this, but my assessment is tha
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