Janet Yellen: “We will respond to the letter, and I don't really have more to say about that.”

In 2034, under our budget, I believe it would be around 45 trillion.

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.

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.

He will oppose any tax increases on families earning under $400,000 at the same time that he will oppose keeping in place benefits that went to the wealthy.