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Jack Lew Could Be Treasury Secretary by the Weekend, but His First Moves Are Unclear

February 26, 2013 So far, the Senate proceedings on President Obama’s nominee for Treasury secretary, Jacob Lew, have been surprisingly free of political fireworks, which could pave the way for a confirmation vote by the end of the week. The Senate Finance Committee is scheduled to vote on Lew’s nomination Tuesday morning, with...

Coming to A State Near You: Big Spending Cuts

February 25, 2013 The White House is trying to raise pressure on Congress to cancel automatic spending cuts by releasing the most detailed accounting to date of how the reductions would hit in the 50 states. The cuts, known as the sequester, take effect on March 1. Among the highlights of the White...

Analysis: New Simpson-Bowles Plan Overstates the Deficit Problem

February 20, 2013 Deficit hawks Alan Simpson and Erskine Bowles just don’t quit. The duo unveiled the latest iteration of their deficit-reduction plan on Tuesday, which calls for $2.4 trillion in cuts over 10 years — yet another chapter in their ongoing debt campaign that has not gained much political traction since 2010....

Obama May Avoid Talking Sequestration in State of the Union

February 12, 2013 When President Obama delivers his State of the Union address tonight, he’s expected to give scant attention to one of the most pressing issues facing Washington: $85 billion in deep spending cuts set to begin on March 1 for government programs from Head Start to the Food and Drug Administration...

Why the vote to suspend the debt ceiling didn't end the threat to the U.S. economy

January 25, 2013 Washington breathed a sigh of relief this week when the House passed a bill to temporarily suspend the debt ceiling through May 18—pushing off a massive fiscal fight for yet another day. To the Democrats, it seemed that House Republicans had finally realized that brinkmanship over the economy was bad...

Analysis: The man who could save Obama's legacy

January 9, 2013 (Editor's note: With President Obama expected to name Jack Lew as Treasury secretary on Thursday, here's a profile in the Nov. 3, 2012 print edition of National Journal.) Jacob Lew isn’t the most obvious figure to be charged with securing the Obama legacy. The purposefully low-key White House operative is...

Thankless job awaits Jack Lew if he heads to Treasury

January 4, 2013 As early as next week when President Obama has returned to Washington from his Hawaii vacation, he’s expected to name his next Treasury Secretary -- with all signs pointing toward the nomination of Jacob ‘Jack’ Lew. Lew possesses the impeccable resume of a long-time Washington insider. He now works as...

Fiscal compromise sets stage for new year of mini-cliffs

January 1, 2013 This article has been updated. My, my, how far lawmakers’ ambitions for the fiscal cliff negotiations have fallen in the past two weeks. Aiming to pull the country back from the fiscal cliff, the Senate early Tuesday easily approved a measure that would delay automatic budget cuts known as the...

Analysis: Newtown shooting provides perspective amid fiscal cliff

December 18, 2012 Two days after the Newtown school massacre, Congress returned to Washington with a more subdued attitude toward partisan bickering and with a newfound focus on finding a compromise on the fiscal cliff. Neither party seemed to want to drag out a public battle over taxing the wealthy, or cutting Medicare...

Can Boehner sell the GOP on Obama's new fiscal cliff offer?

December 18, 2012 President Obama has made a key concession in talks over how to avoid the fiscal cliff, offering to accept a critical Republican demand for deeper spending cuts in exchange for raising tax rates on Americans making more than $400,000 a year. Now, it’s up to House Speaker John Boehner to...