Janet Yellen: “the Federal Reserve's job is to try to achieve maximum employment and broad gains in the labor market that are as widely…”

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.

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.

There will be a negotiation over what to do when these tax cuts expire.