Treasury Secretary Issues Warning On Debt Limit

(Washington, DC) -- Congress needs to raise the debt ceiling and they need to do it soon.  

That's what Treasury Secretary Janet Yellen said in a letter to congressional leadership, adding it needs to happen by August 2nd.  

If not, Yellen warns her department will have to take "certain additional extraordinary measures" to avoid a default.

 She also explained the time extraordinary measures can be used "is subject to considerable uncertainty."