Jack Lew, 2011: Obama’s Budget Will Pay Down National Debt

On February 13, 2011, President Barack Obama’s Treasury Secretary nominee Jack Lew went on CNN and claimed that Mr. Obama’s budget will pay down the national debt.

The plan, Lew said, “will get us, over the next several years, to the point where we can look the American people in the eye and say we’re not adding to the debt anymore; we’re spending money that we have each year, and then we can work on bringing down our national debt.”

Mr. Lew, of all people, should have known. After all, he was, at the time, the director of the Office of Management and Budget (OMB).

But as this copy of the OMB’s own table makes clear, Mr. Lew’s televised promise to the American people was a sign of either deception or incompetence.

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