Treasury Articles

Hillary Can't Name Woman for $10 Bill

After mocking Republicans for failing to do so.
3:54 PM, Sep 22, 2015

Democratic presidential candidate Hillary Clinton mocked her Republican rivals for the White House for being unable to name an "American woman" worthy of going on the $10 dollar bill—and then was unable to name one such woman herself.

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Leave Hamilton Alone!

And take Jackson off the $20.
1:35 PM, Jun 18, 2015

On Wednesday, the Treasury Department

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How to Make the Inversion Problem Even Worse

Treasury’s regulatory non-solution makes a legislative fix much more difficult to achieve.
2:01 PM, Oct 21, 2014

Amidst the cliched rhetoric decrying “unpatriotic” companies that accompanied the Obama administration’s recent move to address corporate inversions, it was easy to miss the fact that there is relatively little of substance that can be remedied via regulation alone, even with Treasury Secretary Jacob Lew stretching the limits of executive power.

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Treasury Doesn’t Know How Much New MyRA Program Will Cost

4:03 PM, Jun 19, 2014

In January during his State of the Union Address, President Obama unveiled his new myRA program. “Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401(k)s. That’s why ... I will direct the Treasury to create a new way for working Americans to start their own retirement savings: myRA,” he explained.

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In Speech on Bipartisan Cooperation, Treasury Secretary Cites Obamacare Vote

6:45 AM, May 19, 2014

President Obama has painted a bleak portrait of cooperation in Washington in several recent speeches, charging that Republicans say "no to every proposal that we know could make a difference in the lives of hardworking Americans," and 

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Senate, EPA, Treasury Websites Vulnerable to Phishing Scams

6:01 AM, Mar 10, 2014

Less than a month after the exposure of a widespread vulnerability on government "open data" websites, another perhaps even more insidious opening for abuse of government websites has come to light.

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Treasury Secretary Stonewalls When Asked How Many Have Signed Up for Obamacare

10:22 AM, Oct 06, 2013

Treasury Secretary Jack Lew refused to answer Fox host Chris Wallace's simple question this morning: How many people have signed up for Obamacare?

"I'm going to ask you one last time," said Wallace, "because, forgive me sir, you haven't answered it: do you not know how many people signed up, which would seem to indicate another major software glitch, or is it that the numbers are embarrassingly small?"

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Drop Dead Debt Date

3:07 PM, Sep 26, 2013

The government will be tapped out on Oct 17, according to Treasury Secretary Jack Lew.  Unless, that is, Congress takes:

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Debt Ceiling in Mid-October

3:41 PM, Aug 26, 2013

The Hill reports:

The Treasury Department has told Congress it must raise the $16.7 trillion national debt limit by mid-October. 

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Treasury Secretary Uses Naturalization Ceremony to Plug Immigration Bill

11:29 AM, Jul 04, 2013

At a pre-Independence Day naturalization ceremony at the Treasury Department Wednesday, Treasury Secretary Jack Lew used about one-third of his address to a roomful of newly sworn-in citizens to criticize the America’s immigration system and plug the current immigration legislation. According to prepared remarks, he told these newest Americans that "too many immigrants do not get a fair shot at the American dream.

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Special Prosecutor for IRS?

9:06 AM, Jun 30, 2013

The Chicago Tribune editorializes:

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Inspector General Finds 5% Compliance Rate With Regulations on Certain IRS Contracts

8:41 AM, May 23, 2013

The Internal Revenue Service has come under heavy criticism from both Republicans and Democrats in recent days after an inspector general's report detailed "inappropriate criteria" used to identify certain applications of mainly conservative organizations for special review resulting in long delays in processing and invasive inquiries.

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Beyonce, Jay Z Trip to Cuba 'Fully Licensed' by Treasury Department

1:26 PM, Apr 08, 2013

The Treasury Department "fully licensed" Beyonce and Jay Z's trip to Cuba, according to Reuters.

"American pop star Beyonce and rapper husband Jay Z visited Havana last week on a cultural trip that was fully licensed by the United States Treasury Department, according to a source familiar with the trip," Reuters reports.

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Jack Lew Oversaw Up to 113 Cayman Island Investment Funds

5:08 PM, Feb 13, 2013

Jack Lew, who has been nominated as the next treasury secretary, oversaw up as many as a hundred Cayman Island investments when he worked at Citi Bank as chief operating officer of the alternative investment services unit, SEC disclosures reveal. It has previously been reported that Lew himself had been invested in a fund that was based in the Cayman Islands.

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Obama Called Cayman Island Investments 'The Biggest Tax Scam on Record'

4:02 PM, Feb 11, 2013

In the 2008 presidential campaign, Barack Obama called Cayman Island investments "the biggest tax scam on record." Now, in 2013, President Obama has nominated Jack Lew, who had $56,000 in Cayman Island investments, to be the next secretary of Treasury. 

Here's Obama making the claim in 2008:

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In Lew of Compromise

Obama to nominate Jacob Lew as treasury secretary.
3:20 PM, Jan 09, 2013

By choosing White House chief of staff Jacob Lew as his new treasury secretary, President Obama is bracing himself to battle congressional Republicans in 2013, not seeking bipartisan compromises with them.  If confirmed, Lew would succeed Tim Geithner in the treasury job.

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Krugman Passes on Treasury Secretary Job; Wasn't Offered It Anyway

9:16 AM, Jan 07, 2013

In a blog post on the New York Times website, columnist Paul Krugman says no to serving as treasury secretary. Which is clarifying, even though he was never offered the job anyway.

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Treasury Dept. Tells Staff Not to Worry About 'Fiscal Cliff'

9:01 AM, Dec 26, 2012

The Treasury Department is telling its staff not to worry about the "fiscal cliff," an internal memorandum sent to all employees reveals. The memo, which is signed by the deputy secretary of the treasury, Neal S. Wolin, states that "there is no reason why both sides should not be able to come together" to reach a deal.

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Sessions: Obama's 'Secret' Plan 'Increases Spending by More than $1 Trillion'

5:28 PM, Dec 03, 2012

Senator Jeff Sessions, the ranking member on the Senate Budget Committee, is releasing a statement this evening that claims President Barack Obama's "secret" plan "increases spending by more than $1 trillion above the current baseline."

"In other words," Sessions adds, "spending will increase $1 trillion above the already projected growth after enactment of the Budget Control Act as part of the last debt deal. It achieves not one dollar in net spending reduction or debt reduction, and it continues the country on a dangerously unsustainable debt path."

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The $4.351 Trillion Difference Between Obama & Clinton

1:40 PM, Sep 05, 2012

Always looking "forward," President Obama has asked Bill Clinton—who was elected to the presidency 20 years ago—to speak tonight and suggest to the American people (whether explicitly or implicitly) that this is really a choice between Clinton and George W. Bush, rather than between Obama and Mitt Romney. If you're Obama, this beats running on your record.

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No Good News

2:00 PM, Aug 05, 2011

None. That’s the total of on-the-other-hand good news I have to report this week. Lest you think I am overlooking the debt deal cut in Washington last week, consider this:

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Treasury Exposes ‘Secret Deal’ Between Iran and Al Qaeda

11:00 PM, Jul 29, 2011

In a stunning development on Thursday, the U.S. Treasury Department accused the Iranian government of sponsoring al Qaeda. Treasury designated six al Qaeda terrorists and reported that they are working for a network headquartered in Iran. This al Qaeda network is “headed by Ezedin Abdel Aziz Khalil, a prominent Iran-based al Qaeda facilitator, operating under an agreement between al Qaeda and the Iranian government.”

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The Battle of the Deficit Bulge

3:50 PM, Jul 29, 2011

As of this writing, the president has pulled off a great political trick, with the help of some kamikaze Republicans.

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Geithner Admits to Playing Politics with Debt Ceiling

Geithner: "[F]irst and most important, we have to lift this threat of default from the economy for, you know, for the next 18 months."
3:44 PM, Jul 25, 2011

Why, exactly, do we need to extend the debt limit to the point where the federal government can borrow another $2.4 trillion (hardly a nice round number) — about the same amount of money, even in inflation-adjusted dollars, that we borrowed to fight all of World War II? Because, as Treasury Secretary Timothy Geithner made abundantly clear during his Fox News Sunday interview with Chris Wallace, $2.4 trillion is the amount of money that the Obama administration thinks it needs to borrow (on behalf of taxpayers, who will have to pay it back) to get Obama through the next election.

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Jim Baker on the Debt Limit: ‘Don't Renew the Credit Card!’

1:00 PM, May 03, 2011

I just ran into former White House chief of staff/Treasury secretary/secretary of State Jim Baker at Reagan National airport. After some small talk and some sharing of our pleasure at the killing of Osama bin Laden and our admiration for all involved, from the president to the Navy SEALs, we drifted into a discussion of the debt ceiling fight.

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