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Treasury Secretary Janet Yellen faced tough questions from lawmakers in the House Appropriations subcommittee on Tuesday. Among the topics discussed were bank bailouts and President Biden’s budget proposals.

During the hearing, Congresswoman Brenda Lawrence (D-MI) questioned Yellen on the possibility of another bank bailout similar to what happened during the 2008 financial crisis. Yellen assured the subcommittee that the banking system is much stronger now and that there are measures in place to prevent another crisis.

She also spoke about the importance of implementing regulations that hold banks accountable and prevent them from taking excessive risks. Yellen noted that the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed in response to the 2008 crisis and has been effective in strengthening the financial system.

Aside from bank bailouts, the hearing also focused on President Biden’s budget proposals. Yellen defended the administration’s proposed budget, explaining that its investments in education, infrastructure, and healthcare are crucial for the country’s long-term economic growth.

She also highlighted the need for Congress to raise the debt ceiling, which is currently set for July 31st. Yellen warned that failure to raise the ceiling could have disastrous consequences and called for a bipartisan solution to address the issue.

The hearing provided an opportunity for lawmakers to ask questions and gain insight on important economic matters from one of the leading experts in the field. It is important for these topics to be discussed publicly and for the government to be held accountable for its actions regarding the economy.

Overall, the hearing was a productive discussion that shed light on key issues affecting the country’s economic future. As the government continues to work towards a more stable financial system, it is important that such discussions continue and that lawmakers remain vigilant in monitoring economic developments.