© Reuters. FILE PHOTO: White House Press Secretary Karine Jean-Pierre holds the daily press briefing at the White House in Washington, U.S. January 12, 2023. REUTERS/Jonathan Ernst
WASHINGTON (Reuters) – The White House said on Friday it will not negotiate over the debt ceiling and there are no discussions underway about eliminating it.
White House spokesperson Karine Jean-Pierre told reporters Congress must act to increase the debt ceiling after U.S. Treasury Secretary Janet Yellen said the country will likely hit the $31.4 trillion statutory debt limit on Jan. 19.
That will force Treasury to launch extraordinary cash management measures that can prevent default until early June.
Source: Investing.com
