Janet Yellen: “I think our authority is extremely limited, and it would not be appropriate for us to give loans to Puerto Rico.”

The President supports no tax increases on families making under $400,000.

The President has been very clear that no family earning less than $400,000 will face a tax hike.

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.

He has explicitly said that he will not agree to raise taxes for people making under $400,000.