Yellen says government could run out of cash by June 5 without debt ceiling agreement

Fox News’ congressional correspondent Chad Pergram details the ongoing debt negotiations as the default deadline looms.

"Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5," she wrote. A warning she sent to lawmakers on Monday read, "With an additional week of information now available, I am writing to note that we estimate that it is highly likely that Treasury will no longer be able to satisfy all of the government’s obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1."

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