Yellen warns U.S. could default for first time in history

Erin Burnett OutFront

CNN

News

4.4 • 706 Ratings

🗓️ 2 May 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Treasury Secretary Janet Yellen issues a stark warning that the United States could run out of money as early as June 1st. Plus, a bold attack inside Russia after a freight train carrying supplies is blown off of its tracks. Is this the beginning of the Ukrainian counteroffensive? Also, U.S. Surgeon General Vivek Murthy joins to discuss the health crisis of isolation. To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices

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0:32.1	Out front next running out of cash. Treasury Secretary Janet Yellen warning Washington,
0:36.6	it is just 31 days to pay
0:38.5	America's bills or risk an economic catastrophe. But tonight, the two sides could not be further
0:43.5	apart. Plus a bold attack inside Russia today, a freight train carrying crucial supplies blown off
0:48.8	its tracks. Is this the beginning of the Ukrainian counteroffensive? And Americans are lonely
0:53.8	and isolated. And it is now
0:55.7	a full-blown health crisis. That's what the Surgeon General is saying tonight as he opens up
0:59.7	about his own struggles. He's my guest. Let's go out front. And good evening. I'm Aaron Burnett.
1:06.5	Out front tonight out of cash. Treasury Secretary Janet Yellen issuing a stark warning tonight
1:11.6	that the United States will run out of money as early as June 1st if Congress doesn't raise
1:16.2	or suspend the debt ceiling. In a statement, she writes, after reviewing recent federal tax
1:21.7	receipts, our best estimate is that we will be unable to continue to satisfy all of the government's
1:27.2	obligations by early June
1:29.2	and potentially wait for it as early as June 1st if Congress does not raise or suspend the debt
1:35.1	limit before that time. And right now, the White House in Congress couldn't be further away from a deal.
1:40.3	The White House wants to raise that debt limit with absolutely no strings attached. Republicans in the House, of course, say they'll only do it if deep spending cuts are attached.
1:47.9	And there are only eight days, eight days when with the House and Senate will be in session at the same time this month.
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