Janet L. Yellen: “Thank you for the invitation to testify and for your support of the Treasury Department.”

not paying any of our bills is default.

Historically, it is a high level, but on the other hand, interest rates, real interest rates have moved down substantially in recent decades.

The failure to raise the debt ceiling would cause an economic and financial catastrophe.

We are changing that. Our budget request provides steady State operational funding that will allow taxpayers to receive the best service possible.