Tags: Jack Lew | Debt Limit

Budget Director Still Pushing for Big Debt Deal

Sunday, 17 Jul 2011 09:24 AM

By Hiram Reisner

White House budget director Jack Lew says he believes negotiators quibbling on the debt ceiling will probably only be able to complete a smaller deal, but he continued Sunday to advocate $4 trillion in deficit reduction over 10 or 12 years, Politico reports.

“We’ve said for some time now — as have most — that we need to do on the order of $4 trillion of deficit reduction over the next 10, 12 years. We would like to get that done now,” Lew said on NBC’s “Meet the Press.”

Lew noted creditors and the financial markets could accept something smaller, if negotiators could not secure a better deal.

Lew also said he thought there was enough time to get the deal done before the Aug. 2 deadline.

"There's still time to get something big done. The president has made it clear he wants to do something substantial," he said.

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Judge Denies Rick Perry Request to Toss Abuse-of-Power Case

Tuesday, 27 Jan 2015 20:30 PM

A judge denied Rick Perry's defense team's request to dismiss a felony abuse-of-power case on constitutional grounds Tue . . .

Dementia, OTC Link: Study Examines Effects of Certain Common Drugs

Tuesday, 27 Jan 2015 20:25 PM

A recent study has found a link between dementia and some common over-the-counter (OTC) drugs. . . .

'Ghostbusters' Female Cast Revealed, But Reactions Are Mixed

Tuesday, 27 Jan 2015 19:39 PM

The all-female cast for a new "Ghostbusters" film is taking shape, with Melissa McCarthy signing on and Kristen Wiig, Le . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved