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Yellen Says U.S. May Hit Debt Limit on June 1

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Treasury Secretary Janet Yellen has informed congressional leaders that the federal government must raise the debt limit by as early as June 1 or face a potentially catastrophic default, the New York Times reports.

Washington Post: “The new estimate followed less than a week after House Republicans delivered on their pledge to try to leverage the looming deadline to secure spending cuts, defying President Biden and officially touching off a political stalemate that could tip the fragile economy into another recession.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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