The U.S. government hit its statutory debt limitThursday, and the Treasury Department said it has begun resorting to “extraordinary measures” to pay the bills.
In a letter to congressional leaders Thursday, Treasury Secretary Janet Yellen said those special financial tools to meet the country’s obligations can continue until at least Monday, June 5. After they expire, Congress will need to act to prevent default.
Yellen said in the letter that “the period of time that extraordinary measures may last is subject to considerable uncertainty, including the challenge of forecasting the payments and receipts of the U.S. Government months into the future.”
