Jacob J. Lew: “We can't just cut the things that we need to grow in order to reduce the deficit more in the short run.”

We are seeing thousands of people leave Puerto Rico for the mainland, and they are American citizens.

I think there are other things that need to be part of a comprehensive plan in the long run, but there is an immediate crisis in Puerto Rico.

The decision has never been made by the only people who can make the decision--that is the President of the United States on the advice of the Treasury Secretary--what to do.

Over the past 7 years under the President's leadership, we have seen a sustained economic recovery and an unprecedented decline in the Federal budget deficit.