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Parties scramble for deal on debt limit, budget

the pressure on, reiterating in a letter to lawmakers Monday that the government could run out of cash and "extraordinary measures" used to stay under the $31.4 trillion debt ceiling as soon as June 1.

Senate, for now, defers to Biden and McCarthy on debt talks

Yellen said Monday that the government may be unable to pay its bills on time as soon as June 1 — several senators said that leaves enough time to find agreement and brushed off any need for a short-term