Jacob Lew

(Newser) - The federal budget deficit for fiscal 2013 has plunged by more than $400 billion, the biggest drop since the end of World War II, the Treasury Department says. It comes in at $680 billion—not exactly pocket change, but a lot better than the trillion-plus deficits of the last five...

(Newser) - Treasury Secretary Jacob Lew has given Congress until mid-October to raise the debt ceiling. That's when he predicts the Treasury will run out of "extraordinary measures" to avoid going over the $16.7 trillion borrowing limit. In a letter to lawmakers today, Lew urged them to act "...

(Newser) - Hillary Clinton is already working to restore some of the strength sapped from the State Department under the Bush administration, the New York Times reports. Clinton is seeking a bigger budget for the department and wants to restore the role played by high-profile special envoys. Officials say Clinton also wants...