Treasury Secretary Janet Yellen warned Congress on Friday that the nation will hit the debt ceiling on Thursday, January 19. If lawmakers don’t suspend or raise the debt ceiling, Yellen wrote, there will be “irreparable harm” to the U.S. economy as well as global financial stability.A breach of the debt ceiling could interrupt federal spending on things like Social Security, Medicare, or even just salaries of federal employees. It would also tank America’s credit rating.Yellen said the Treasury will go to “extraordinary measures” to avoid default, giving lawmakers until early June to come up with a deal. These measures include redeeming existing and suspending new investments of the Civil Se
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