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.Read more
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.Read more
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.Read more
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?"Read more
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.Read more
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.Read more
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.Read more
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.Read more
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:Read more
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.Read more
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.Read more
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."Read more
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.Read more
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.”Read more
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.Read more
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.Read more
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