Shaun Donovan: “It would be a cruel irony if homeowners have the ability to stay in their homes because of a principal reduction...”

I would never believe that the private sector, left to its own devices, is the best possible solution. I am in Government because of the role of Government in setting rules and working in partnership with the private sector.

Not only have we seen the slowest growth in healthcare costs over the last 3 years that we have seen in 50 years, but the budget goes farther.

We all understand the impact the foreclosure crisis has had on homeowners, but the crisis hurt communities, too.

I recognize that now-Secretary Burwell has set a high bar for OMB Directors going forward, both with her strong leadership and her efforts to maintain solid relationships with Congress.