Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
U.S. Treasury Secretary Janet Yellen warned lawmakers that the federal government will likely run out of cash and extraordinary measures by October 18 unless Congress raises the debt ceiling.
The new estimate from Yellen raises the risk that the United States could default on its debt in a matter of weeks if Washington fails to act. A default would likely be catastrophic, tanking markets and the economy, and delaying payments to millions of Americans.
"It is uncertain whether we could continue to meet all the nation's commitments after that date," Yellen wrote in a letter, adding the projection is based on estimated tax payments.
Previously, the Treasury Department estimated it would run out of cash and accounting maneuvers at some point in October.
The warning comes hours after Senate Republicans blocked a bill that would have suspended the debt limit.
Yellen cautioned that the October 18 deadline is only an estimate because the federal government's cash flows are "subject to unavoidable variability." She noted that the government's daily gross cash flow, excluding financing, averaged nearly US$50 billion per day over the past year and has even exceeded US$300 billion.
"It is important to remember that estimates regarding how long our remaining extraordinary measures and cash may last can unpredictably shift forward or backward," Yellen wrote. "This uncertainty underscores the critical importance of not waiting to raise or suspend the debt limit. The full faith and credit of the United States should put at risk."
The risk is that Congress runs out of cash earlier than expected, setting the stage for an accidental default.
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
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Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
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Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.