The United States has a few more days than expected before it runs out of money, Treasury Secretary Janet Yellen said in a letter Friday afternoon.
The new deadline to act or risk breaching the debt ceiling is June 5, Yellen said, setting a hard deadline for the first time. She had previously been less specific, saying the breach could occur “potentially as early as June 1.”
The Treasury Department hit the statutory borrowing limit in January and has since been using “extraordinary measures” to pay the country’s bills.