The government's main budget experts confirmed that the US could risk economic catastrophe as soon as early June

• The nonpartisan Congressional Budget Office projected the US could run out of money in early June.
• That projection tracks with Treasury Secretary Janet Yellen's warnings on when the US could default.
• Congress can step in and prevent the crisis, but so far Republicans and Democrats are still sparring.

The US just got another sign of an imminent economic catastrophe if Congress fails to raise the debt ceiling this month.

On Friday, the nonpartisan Congressional Budget Office (CBO) projected that there is "significant risk" the US could default on its debt in the first two weeks of June if the debt ceiling is not raised by then.