Tim Geithner’s Lead Negotiating Position on Fiscal Slope Should Cause Concern

By: Tuesday November 27, 2012 12:21 pm

Matt Yglesias makes the astute observation that Jack Lew will be the next Treasury Secretary, and I agree. However, his reasoning for this overlooks one key detail: Why? Well because the White House has decided that it wants the Treasury Secretary to be deeply involved with budget issues, and who better than a former OMB [...]

Reports: Bowles Rules Out Treasury Secretary Job

By: Friday November 16, 2012 8:30 am

Erskine Bowles told Maria Bartiromo last night that he would not serve as the nation’s next Treasury Secretary. This apparently happened off-air, but it has been confirmed in local papers in North Carolina, Bowles’ home state: Bowles reportedly confirmed to host Maria Bartiromo off-air that he would not serve as the next Treasury secretary, according [...]

Treasury Rumors: Replacements for Geithner on Either Side a Fairly Sorry Lot

By: Monday October 1, 2012 2:11 pm

The next Administration, whoever it may be, will feature a new direction on policies around economic and finance issues. That’s because, even if Barack Obama wins re-election, Treasury Secretary Timothy Geithner has announced that he would leave his post. So you either get a Romney Presidency and an entirely new direction on these policies, or [...]

Again, New Accents But Same Songs in Obama Budget

By: Monday February 13, 2012 7:01 am

The FY 2013 budget that the Administration will release today is, in the long run, a meaningless document in substantive terms, so I don’t want to spend that much time on it. But I was a little surprised with the pushback I received about my assessment that it reflects a shift in tone rather than [...]

Bill Daley Resigns as White House Chief of Staff

By: Monday January 9, 2012 11:35 am

When Bill Daley was relieved of the Chief of Staff part of the Chief of Staff job, I thought he’d just end up as an appendage, a corporate bagman who could help the corporate community get things fixed at the White House, such as the decision to roll back new ozone standards. But over the [...]

Lew Explains American Jobs Act Offsets

By: Monday September 12, 2011 2:18 pm

Now that I’ve had a chance to examine what OMB Director Jack Lew actually said about the pay-fors in the American Jobs Act, the gambit is becoming more clear. Here’s the scenario, as best as I can describe it: The Administration had been readying a $3 trillion package of deficit reduction to submit to the [...]

White House Wants to Boost Disaster Relief Funding by $6.7 Billion in FY2012

By: Tuesday September 6, 2011 10:10 am

The White House estimates that Hurricane Irene caused $1.5 billion in damages, virtually assuring that they will have to ask for a disaster relief supplemental sometime in the next couple months. The preliminary estimate, released by White House budget director Jacob Lew, is on top of $5.2 billion needed for other recent disasters, including tornadoes [...]

White House Mid-Session Review Shows Low Growth, High Unemployment for Years

By: Thursday September 1, 2011 12:10 pm

The White House’s mid-session review of the budget and the economy was a bracing acknowledgement of reality, with GDP growth and employment estimates plunging. But it still included the fantasy of sharply higher growth shortly down the road. The 2011 growth forecast was cut by a full point. As a result, it offered an alternative [...]

Boehner Debt Limit Plan Has More Concrete Spending in It Than Spending Cuts

By: Wednesday July 27, 2011 6:10 am

The CBO report on John Boehner’s debt limit plan has really set back the effort and probably poisoned the entire enterprise among the more conservative members of his caucus. But it did provide some key information. First of all, take a look at CBO’s summary of the Boehner plan. It would: Establish caps on discretionary [...]

Lew Insists That August 2nd Is Drop-Dead Date on Debt Limit

By: Tuesday July 26, 2011 2:14 pm

The New York Stock Exchange dropped today, but by a relatively piddling amount, as the markets still have given no indication that they will yet punish Congress for failing to pass a debt limit deal. NASDAQ even gained a few points. The market may be pricing in the fact that Treasury has more cash on [...]

Democratic Pollsters Telling Leadership They Must Cut Deficits

By: Friday February 18, 2011 7:52 am

The strategy by Republicans to force the President to take a position on deficit cuts, Medicare, Medicaid and Social Security is more transparent than one of Lady Gaga’s outfits. Tom Coburn, supposedly a personal friend of the President, describes it as a leadership deficit. Because the only person who is able to lead on these [...]

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