WASHINGTON — Treasury Secretary Janet Yellen said Friday that the United States will likely have enough reserves to push off a potential debt default until June 5.
“We now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5,” Yellen wrote in a letter to House Speaker Kevin McCarthy.
The new date Friday provided some much needed breathing room for negotiations between the White House and congressional Republicans that appeared to be closing in on a compromise agreement Friday to raise the debt ceiling for two years.
The last time the so-called “X date” was updated was on May 1, when Yellen told Congress the United States had enough cash available to meet its obligations until…
