Treasury secretary Janet Yellen, in one of her final major acts in office, warned Congress late Friday that the Treasury will need to begin "extraordinary measures" on Tuesday to avoid hitting the debt limit.

In one of her last acts as Treasury Secretary, Janet Yellen says her agency will start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling,

U.S. Treasury Secretary Janet Yellen is warning that the government will reach its debt limit on Tuesday and will need to take “extraordinary measures” to avoid risking a potentially catastrophic default.

Janet L. Yellen, the outgoing Treasury secretary, urged lawmakers to raise the debt limit and protect the full faith and credit of the United States.

U.S. Treasury Secretary Janet Yellen said that the government will reach its statutory borrowing limit on Tuesday and begin employing "extraordinary measures" to keep from breaching the cap and risking a potential catastrophic default.

The US will stop paying into federal retirement funds in a bid to avert default Treasury Secretary Janet Yellen has said Read Full Article at RTcom

In one of her last acts as Treasury Secretary, Janet Yellen said her agency will start taking "extraordinary measures," or special accounting maneuvers intended

As President-elect Donald Trump prepares to take office, the U.S. government’s fiscal health is bleak, with debt and deficits set to reach record levels.

By 2035, the federal government will spend $2.7 trillion more than it collects in revenue, an all-time high for annual deficits, the Congressional Budget Office projected. That level of borrowing will mean the total debt held by the public will hit $52 trillion,