Jacob J. Lew: “The decision has never been made by the only people who can make the decision--that is the President of the United…”

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.

So the only pathway to a stable future for Puerto Rico has to involve them restructuring their debt.

I don't think there is an urgent crisis. I don't think Americans should worry that their Social Security won't be there.

I don't think defaulting on payments to veterans is any better than defaulting on payments to foreign bond holders.