U.S. expected to hit debt ceiling next week, Treasury Secretary Janet Yellen tells Congress

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U.S. expected to hit debt ceiling next week, Treasury Secretary Janet Yellen tells Congress

U.S. Treasury Secretary Janet Yellen told Congress on Friday that she expects the country to hit the debt ceiling next Thursday. The government will then resort to “extraordinary measures” to avoid default. Gregory Daco, chief economist at EY-Parthenon, joined CBS News to discuss that and other financial news.