I believe that there is a fear in the country, both amongst the public and in the case of investment amongst businesses, that Washington may not understand how much of a problem it is to look at deficits that are growing at a rate that shows no natural turning point.
Highlights concerns about growing deficits and lack of government action.
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More from 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.
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.
If we do not have the resources to hire the enforcement officers that we need, the tax gap will only grow.
The immediate need is for Congress to pass legislation that will permit them to restructure their debt.