Janet Yellen says 'hard deadline' for US to breach debt ceiling hasn't changed

Treasury Secretary Janet Yellen indicated her"hard" June 1 deadline for the United States to potentially breach the debt limit hasn't changed.

The treasury secretary also surmised the odds of making it to June 15 for another round of tax receipts is"quite low" but conceded it was difficult to know for certain. Yellen further argued,"It's not an acceptable situation for us to be unable to pay our bills.""My assumption is that if the debt ceiling isn't raised, there will be hard choices to make about what bills go unpaid," Yellen told NBC's Meet the Press.

Back in March, Yellen cast doubt on Republican plans for prioritization of spending in the event of a debt limit breach. Such plans call for the government to pay its most important obligations first, such as the interest on the national debt, while allowing less pressing expenditures to go unpaid while the government is blocked from borrowing more.

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