Treasury Secretary Janet Yellen says the U.S. could run out of cash to pay its bills as soon as next month. In a letter sent to lawmakers Monday, Yellen said, "we will be unable to continue to satisfy all of the government's obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time." CBS News congressional correspondent Scott MacFarlane has more.

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White House officials said House Speaker Kevin McCarthy claimed he is willing to negotiate but rejected compromises behind the scenes.

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Lawmakers expressed sharp divisions on how to approach the looming debt limit during a Senate hearing Thursday. CBS News congressional correspondent Nikole Killion and CBS News political correspondent Caitlin Huey-Burns, share reactions from senators and the White House.

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