Patrick McHenry actually said...

"So austerity too fast and spending cuts too soon and tax increases that would have a negative impact in economic growth, that is the fiscal cliff that you are speaking of?"

"But beyond that, does the Fed accept as collateral for foreign debt sovereign debt of foreign countries?"

"The way the law of the land is structured, we can't lend money to the IMF without the authorization of the Congress of the United States."

"And it is a 30-day provision, so we would expect that within the next three or four weeks in front of Congress, the decision-making there."