Estimated debt ceiling deadline pushed to June 5 as negotiations continue

Treasury Secretary Janet Yellen announced Friday that the estimated deadline that the government could begin to default on its debts has been pushed back from June 1 to June 5, giving negotiators an extra four days to reach a deal on raising the nation's debt ceiling. House Speaker Kevin McCarthy has expressed optimism that it will get done in time. CBS News congressional correspondent Scott MacFarlane has the latest.

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News May 27, 2023 Add to Reading List

Estimated debt ceiling deadline pushed to June 5 as negotiations continue

Treasury Secretary Janet Yellen announced Friday that the estimated deadline that the government could begin to default on its debts has been pushed back from June 1 to June 5, giving negotiators an extra four days to reach a deal on raising the nation's debt ceiling. House Speaker Kevin McCarthy has expressed optimism that it will get done in time. CBS News congressional correspondent Scott MacFarlane has the latest.