Jacob Lew

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Federal Deficit Has Biggest Drop Since WWII

$680B deficit is lowest since 2008

(Newser) - The federal budget deficit for fiscal 2013 has plunged by more than $400 billion, the biggest drop since the end of World War II, the Treasury Department says. It comes in at $680 billion—not exactly pocket change, but a lot better than the trillion-plus deficits of the last five...

Lew: US Will Hit Debt Ceiling in October

Warns Congress it must act 'as soon as possible' to raise limit

(Newser) - Treasury Secretary Jacob Lew has given Congress until mid-October to raise the debt ceiling. That's when he predicts the Treasury will run out of "extraordinary measures" to avoid going over the $16.7 trillion borrowing limit. In a letter to lawmakers today, Lew urged them to act "...

Clinton Moves to Beef Up State
Clinton Moves
to Beef Up State

Clinton Moves to Beef Up State

Bigger budget, expanded role sought for department that withered under Bush

(Newser) - Hillary Clinton is already working to restore some of the strength sapped from the State Department under the Bush administration, the New York Times reports. Clinton is seeking a bigger budget for the department and wants to restore the role played by high-profile special envoys. Officials say Clinton also wants...

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