U.S. could perhaps well default as early as June 1, Yellen says

U.S. could perhaps well default as early as June 1, Yellen says

Treasury Secretary Janet Yellen says the U.S. could perhaps well plug out of cash to pay its funds as rapidly as next month. In a letter despatched to lawmakers Monday, Yellen acknowledged, “we is perhaps no longer ready to proceed to meet the total executive’s duties by early June, and potentially as early as June 1, if Congress does no longer elevate or suspend the debt limit before that time.” CBS Info congressional correspondent Scott MacFarlane has extra.

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