early Monday: "The Treasury has the [constitutional] obligation to pay our debts and spend the money Congress has already directed it to do. It really is that straightforward."in a letter to House Speaker Kevin McCarthy last week that "our best estimate is that we will be unable to continue to satisfy all of the government's obligations by early June, and potentially as early as June 1.
"There is no way to protect our financial system and our economy other than Congress doing its job and raising the debt ceiling and enabling us to pay our bills," Yellen said. "And we should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis."
\u201cTwelve years ago, then-President Obama closed the door on using the 14th Amendment to resolve a Republican-imposed debt ceiling crisis. President Biden, however, is leaving that door wide open. https://t.co/srUQmMkREf\u201d
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