美国国家公共电台 NPR--The U.S. could run out of cash to pay its bills by June 1, Yellen warns Congress

The U.S. could run out of cash to pay its bills by June 1, Yellen warns Congress

Transcript¹

Treasury² Secretary Janet Yellen warned lawmakers Monday that the federal government could run short of money to pay its bills as early as June 1 unless the debt ceiling is raised soon.

Yellen acknowledged the date is subject to change and could be weeks later than projected, given that forecasting government cash flows is difficult. But based on April tax receipts and current spending levels, she predicted the government could run short of cash by early June.

"Given the current projections³, it is imperative⁴ that Congress act as soon as possible to increase or suspend the debt limit in a way that provides longer-term certainty that the government will continue to make its payments," Yellen wrote in a letter to House Speaker Kevin McCarthy, R-Calif.

The warning provides a more urgent timetable for what has been a slow-motion political showdown in Washington.

House Republicans are demanding deep spending cuts and other policy changes in exchange for raising the debt limit. President Biden has insisted he won't negotiate over the full faith and credit of the federal government.

On Monday, President Biden invited McCarthy to a meeting at the White House on May 9 with Senate Majority Leader Chuck Schumer, D-N.Y., and House Minority Leader Hakeem Jeffries, D-N.Y., along with Senate Minority Leader Mitch McConnell, R-Ky. According to a White House official, Biden plans to use the meeting to stress the urgency of avoiding a default, while discussing a separate process to address government spending.

The government technically⁵ reached its debt limit in January, but Yellen said then that she could use emergency measures to buy time and allow the government to keep paying bills temporarily.

Other forecasters have predicted those emergency measures will last through midsummer or beyond. But the first two weeks of June have long been considered a nail-biter, before an expected inflow of quarterly tax payments on June 15.

Yellen urged lawmakers not to take any chances.

"We have learned from past debt limit impasses⁶ that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers⁷, and negatively impact the credit rating of the United States," she wrote.

"If Congress fails to increase the debt limit, it would cause severe hardship to American families, harm our global leadership position, and raise questions about our ability to defend our national security interests," she added.

1 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

2 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

3 projections   

预测( projection的名词复数 )； 投影； 投掷； 突起物

参考例句：

• Their sales projections are a total thumbsuck. 他们的销售量预测纯属估计。
• The council has revised its projections of funding requirements upwards. 地方议会调高了对资金需求的预测。

4 imperative   

n.命令，需要；规则；祈使语气；adj.强制的；紧急的

参考例句：

• He always speaks in an imperative tone of voice.他老是用命令的口吻讲话。
• The events of the past few days make it imperative for her to act.过去这几天发生的事迫使她不得不立即行动。

5 technically   

adv.专门地，技术上地

参考例句：

• Technically it is the most advanced equipment ever.从技术上说，这是最先进的设备。
• The tomato is technically a fruit,although it is eaten as a vegetable.严格地说，西红柿是一种水果，尽管它是当作蔬菜吃的。

6 impasses   

绝境（impasse的复数形式）

参考例句：

• In the history of coalition warfare such impasses have been common, and sometimes disastrous. 在联合作战的历史中，这种相持不下的局面是很普通的，往往也是灾难性的。
• I see conundrums, dilemmas, quandaries, impasses, gnarly thickets of fateful possibility with no obvious way out. 眼看问题经纬万端，进退两难、入困境，死路一条，盘根错节的命定可能性，但找不到明显的出路。

7 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• Finance for education comes from taxpayers. 教育经费来自纳税人。
• She was declaiming against the waste of the taxpayers' money. 她慷慨陈词猛烈抨击对纳税人金钱的浪费。