The idea that we have a balanced plan where we raise taxes and equal that with the reduction in spending has never been what has been presented to Congress by this administration.

But that should not be the goal of the--see, my point is that the goal is to make sure investors are aware of risks that they are taking, but that this is an investment that does carry some level of risk and that is OK.

I think that is important.

I think you and I share the view that taxpayers should not be at risk of bailing out a money market fund.

I make no secret about my view that the FSOC has put a lot of pressure, external pressure on the SEC.

I think that is an obvious opportunity to look at.

I am not of the opinion that we have to wait until we have the perfect solution for every possible entity.

I just reject the notion that private markets are not capable of providing this financing.

That does not strike me as serving any purpose for low- and moderate-income folks to have no ceiling.

It is hard to imagine that that is the optimal way to go about cutting spending.

It seems to me that the most sensible way to go about this would be to give some flexibility to the people who are closest to these spending decisions.

I have to strongly disagree with the notion that we have some kind of severe austerity program that is about to kick in.