Biden optimistic for debt ceiling deal after new date

Treasury Secretary Janet Yellen on Friday issued a new letter to Congress estimating that the government won't be at risk of running out of money to pay all its bills until June 5 -- slightly later than the agency's previous estimate of as soon as June 1."Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government's obligations if Congress has not raised or suspended the debt limit by June 5," Yellen wrote.Republicans questioned Yellen's methodology, with some accusing her of "manipulation tactics.""June 5? Yellen said it was June 1 earlier this WEEK.Republicans won't be intimidated by her manipulation tactics," tweeted Rep.

Andy Biggs."Will the media join our efforts to demand Janet Yellen show her work? I have been asking for three months," said Rep.Bob Good.President Joe Biden speaks to the media before departing the White House for Camp David, in Washington, May 26, 2023.Evelyn Hockstein/ReutersAs he headed to Camp David on Friday evening, President Joe Biden sounded optimistic about negotiations and hopeful that more progress will come into the night."There's a negotiation going on.

I'm hopeful we'll know by tonight whether we are going to be able to have a deal," Biden said"Things are looking good.I'm very optimistic.

I hope we'll have some clear evidence tonight before the clock strikes 12 that we have a deal, but it's very close.And I'm optimistic," he added.Rep.

Patrick McHenry, a key GOP negotiator, agreed with Biden's comments that a deal is very close."I would concur," he said on his way into Speaker Kevin McCarthy's office Friday night."Everybody wants to look for the white smoke.We are not in that stage yet.

So, you have to have an agreement, an agreement on the agreement, which is like the complicated part.You all know waiting around for you know the final bit of agreements is the hardest, longest wait and why we have all these gaps, and we have to go work through language," ...