Mnuchin Warns of ‘Late Summer’ Default If No Debt-Limit Increase
- Congressional leaders negotiating link with spending levels
- White House talking with both parties in Congress to get deal
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Treasury Secretary Steven Mnuchin warned that the U.S. government will face a default in “late summer” unless Congress increases the debt ceiling.
Mnuchin, testifying Wednesday before the House Financial Services Committee, said he’s confident lawmakers will raise the debt ceiling before the deadline.