The Treasury Department says the U.S. will hit its debt limit next week. Treasury Secretary Janet Yellen warned House Speaker Kevin McCarthy that it is “critical that Congress act in a timely manner to increase or suspend the debt limit.” But McCarthy and the House GOP are threatening to not raise the debt ceiling. That would be a huge mistake. Ali Velshi explains why. » Subscribe to MSNBC: http://on.msnbc.com/SubscribeTomsnbc Follow MSNBC Show Blogs MaddowBlog: https://www.msnbc.com/maddowblog ReidOut Blog: https://www.msnbc.com/reidoutblog MSNBC delivers breaking news, in-depth analysis of politics headlines, as well as commentary and informed perspectives. Find video clips and segments from The Rachel Maddow Show, Morning Joe, The Beat with Ari Melber, Deadline: White House, The ReidOut, All In, Last Word, 11th Hour, and Alex Wagner who brings her breadth of reporting experience to MSNBC primetime. Watch “Alex Wagner Tonight” Tuesday through Friday at 9pm Eastern. Connect with MSNBC Online Visit msnbc.com: http://on.msnbc.com/Readmsnbc Subscribe to the MSNBC Daily Newsletter: MSNBC.com/NewslettersYouTube Find MSNBC on Facebook: http://on.msnbc.com/Likemsnbc Follow MSNBC on Twitter: http://on.msnbc.com/Followmsnbc Follow MSNBC on Instagram: http://on.msnbc.com/Instamsnbc #GOP #Debt #McCarthy