Jacob J. Lew: “It is a real privilege to be considered by this committee as the President's nominee to be Secretary of Treasury.”

I think that one of the reasons tax reform is so hard to do is that it does impose burdens to close loopholes.

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

When we took office, the projections were the debt was going to grow to over 100 percent of GDP.

I totally agree, and I was trying to indicate in my response earlier that the risk is being borne by taxpayers on an ongoing basis and the conservatorship is not over.