Janet Yellen: “there will be hard choices to make about what bills go unpaid.”

But what caused our cash balances to run to exceptionally low levels in the past was the failure of Congress to raise the debt limit.

We need to enact policies to make sure that the debt stays sustainable and we are on a fiscally sustainable path.

The President has proposed in his most recent budget expanding the Child Tax Credit.

In 2023, Yellen said the decision was 'arbitrary and based on outdated data.'