Treasury Secretary Confirms US Risks Defaulting On Its $22 Trillion Debt in as Little as Two Months | WHAT REALLY HAPPENED

Treasury Secretary Confirms US Risks Defaulting On Its $22 Trillion Debt in as Little as Two Months

Last week, a Washington-based think tank warned of "potentially devastating economic consequences" for the US and global economies if Congress didn't pass a debt limit extension in the weeks to come.

Treasury Secretary Steve Mnuchin has confirmed that the US could default on its obligations in as little as two months if emergency measures are not taken.

"Based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes," Mnuchin warned, in a letter addressed to Democratic House Speaker Nancy Pelosi obtained by CNBC.

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