Treasury Dept to Congress: don’t delay in raising debt limit

The Treasury Department is urging Congress not to delay in raising the nation’s borrowing authority.
Treasury Secretary Janet Yellen warns the U-S could default on its debt as early as June 1st and says that could spark a global financial crisis. In a letter to Congress, she urges lawmakers “to protect the full faith and credit of the United States by acting as soon as possible.” On Tuesday, President Biden will meet with the top 4 House and Senate lawmakers to discuss their impasse. The White House and Democrats want the debt ceiling raised without negotiation, while Republicans want to secure spending cuts in exchange.