Treasury Secretary Janet Yellen calls Republican plan to prioritize payments "default by another name" amid debt ceiling fight

The way to ensure the government can keep paying its bills is to raise or suspend the debt limit, Treasury Secretary Janet Yellen told lawmakers Friday — not prioritize payments, as some Republicans have proposed.

"In my assessment and those of economists across the board, a default on our debt would trigger an economic and financial catastrophe," Yellen said. "I urge all members of Congress to come together to address the debt limit without conditions and without waiting until the last minute."

The government reached the maximum amount it is...