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  • Jack Lew

    Let’s Work Toward Energy Subsidy Independence

      Why are taxpayers propping up struggling energy firm SolarCity? The company’s dependence on subsidies is a great illustration of why policymakers should remove subsidies for all energy sources. Company executives outlined how dependent the company is on the taxpayer in the company’s IPO document: “Our business currently depends on … More

    Promoting Economic Freedom in Asia: Time for Secretary Lew to Step Up

    U.S. Treasury Secretary Jack Lew is touring Asia this week. He will visit Japan, Singapore, Malaysia, and Vietnam and end with a much-anticipated visit to China. What should he be promoting while meeting with high-level officials in the region? Well, economic freedom, of course. Asia is home to some of … More

    Moody's on Debt Limit: Calling Obama's Bluff on Default

    A voice of reason emerged today among the doomsday predictions over a U.S. government default if the debt limit is not raised by mid-October. The Washington Post reports that Moody’s, a top credit rating service, suggested that hitting the debt limit does not mean the U.S. would default: “We believe … More

    61% of Americans Want Spending Cuts Before Debt Limit Is Raised

    A clear majority of Americans believes that imposing a firm limit on borrowing with spending cuts is the only chance for Congress to kick its gluttonous spending habit. A recent poll released by Bloomberg shows that the majority of Americans oppose President Obama’s demand that Congress raise the debt ceiling … More

    Debt Ceiling Raised Seven Times Under Obama, Costing $43,000 Per Household

    Did you know that since President Obama came into office, the debt limit has been raised seven times? With those increases, Congress has added $43,000 in debt for every American household in just the last four years. And now the debt limit deadline is looming again. Treasury will run out … More

    Plan to Suspend Debt Limit Means Debt Would Rise to $17.8 Trillion

    Treasury Secretary Jack Lew announced a new debt ceiling deadline today, urging congressional lawmakers and the President to come to an agreement concerning the nation’s borrowing authority by October 17. Republicans are proposing a $1.1 trillion increase in the debt limit by suspending the cap through December 2014. The big … More

    The Real IRS Scandal

    Contrary to President Obama’s claim last week in a speech at Knox College, the political targeting of conservative organizations by the IRS is not a “phony scandal.” It is a real scandal that brings into focus the danger of an all-powerful federal government, particularly an agency like the IRS, which … More

    Treasury Secretary Lew Ignores Real Debt Problem, Looming Crisis

    U.S. Treasury Secretary Jack Lew suggested yesterday on NBC that “we have already done a lot of deficit reduction.” In reality, government spending and debt are out of control and getting worse. Negligence in fixing the entitlement programs—which consume more than half of the U.S. budget already—has left them fiscally … More

    Treasury Employs Extraordinary Measures to Spend Beyond Debt Limit

    After hitting the debt limit on March 19, the Treasury Department under Secretary Jack Lew is now employing its toolset of “extraordinary measures” to continue deficit spending without legally breaching the debt limit. It will provide about $260 billion in borrowing capacity, which should last beyond at least Labor Day, … More

    Washington Hits the $16.7 Trillion Debt Ceiling with $300 Billion in New Debt

    On May 19, the United States hit its debt ceiling after adding $300 billion in more debt since lawmakers suspended the ceiling in February. But the cash won’t run dry until at least Labor Day, according to Treasury Secretary Jack Lew, whose department can employ a variety of cash management … More