Janet Yellen: “failing to raise the debt ceiling would lead to, 'a catastrophe,'”

The president has made clear that he would veto the bill in the House that ties aid for Israel to cuts in funding for the Internal Revenue Service.

We certainly have proposed extending the Child Tax Credit, which was immensely helpful, and we are supportive of the legislation that has gone through the House.

The treasury secretary, Janet Yellen, is my exclusive guest tonight.

The most recent and optimistic estimate I’ve seen suggested that the average household will see on the order of $1,000 reduction in income.