Treasury Secretary: U.S. could default as early as June 1 (Video)

Treasury Secretary Janet Yellen says the U.S. could run out of cash to pay its bills as soon as next month. In a letter sent to lawmakers Monday, Yellen said, "we will be unable to continue to satisfy all of the government's obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time." CBS News congressional correspondent Scott MacFarlane has more. #news #debtceiling #economy CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with access to the Internet. The CBS News Streaming Network is your destination for breaking news, live events and original reporting locally, nationally and around the globe. Launched in November 2014 as CBSN, the CBS News Streaming Network is available live in 91 countries and on 30 digital platforms and apps, as well as on CBSNews.com and Paramount+. Subscribe to the CBS News YouTube channel: http://youtube.com/cbsnews Watch CBS News: http://cbsn.ws/1PlLpZ7c Download the CBS News app: http://cbsn.ws/1Xb1WC8 Follow CBS News on Instagram: https://www.instagram.com/cbsnews/ Like CBS News on Facebook: http://facebook.com/cbsnews Follow CBS News on Twitter: http://twitter.com/cbsnews Subscribe to our newsletters: http://cbsn.ws/1RqHw7T Try Paramount+ free: https://bit.ly/2OiW1kZ For video licensing inquiries, contact: licensing@veritone.com