Chris Van Hollen

Right. And that would reduce the tightness of the labor market and reduce pressures on inflation, right?

I think the larger point here, based on your response to that first question about growth and profits, is corporations have a decision as to whether or not they are going to pocket more for profit, which they can, or provide higher wages…

I think clarity is really important at this moment, because there are lots of folks on Capitol Hill who think it is OK to play political games with the debt ceiling.

Nobody should ever contemplate willfully forcing the Treasury to default in this fashion. Anyone who does is unfit for any public office in the United States.

I won't work, and we will default. Other than that it is a spiffy idea.

The United States cannot and must not default on its debt and violate the full faith and credit of the United States.

Right. And that would reduce the tightness of the labor market and reduce pressures on inflation, right?

I think the larger point here, based on your response to that first question about growth and profits, is corporations have a decision as to whether or not they are going to pocket more for profit, which they can, or provide higher wages…

Yes. I mean, when I hear profit margins, what we are seeing in the economy is pretty much about shortages and supply chain blockages.

I think clarity is really important at this moment, because there are lots of folks on Capitol Hill who think it is OK to play political games with the debt ceiling.

Nobody should ever contemplate willfully forcing the Treasury to default in this fashion. Anyone who does is unfit for any public office in the United States.

I won't work, and we will default. Other than that it is a spiffy idea.

The United States cannot and must not default on its debt and violate the full faith and credit of the United States.

Right. And that would reduce the tightness of the labor market and reduce pressures on inflation, right?

I think the larger point here, based on your response to that first question about growth and profits, is corporations have a decision as to whether or not they are going to pocket more for profit, which they can, or provide higher wages…

But profits are the margin, right? They are going up beyond what they were before.

I won't work, and we will default. Other than that it is a spiffy idea.

The United States cannot and must not default on its debt and violate the full faith and credit of the United States.

I think clarity is really important at this moment, because there are lots of folks on Capitol Hill who think it is OK to play political games with the debt ceiling.

Nobody should ever contemplate willfully forcing the Treasury to default in this fashion. Anyone who does is unfit for any public office in the United States.

I think one of the purposes of this and other hearings is just to underscore the cost of inaction and doing nothing.

In my state of Maryland, we're experiencing lots of costs and impacts from climate change and sea level rise.

Thank you, Mr. Chairman. And just listening to the conversation, a couple points. I look forward, to Senator Braun's point, to having a budget debate.

I think one of the purposes of this and other hearings is just to underscore the cost of inaction and doing nothing.

In my state of Maryland, we're experiencing lots of costs and impacts from climate change and sea level rise.