Jacob J. Lew: “I think it is important to have as many workable tools as we can to try to get our hands around reducing spending.”

I believe it is a crisis. I believe there is a need for action immediately on restructuring authority and on oversight.

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

And, most important, TPA makes very clear Congress has the final say.

I think right now, when you look at what our debt is, our deficit, annual deficit, is essentially interest on the debt.