Jack Lew, the man President Obama has chosen to help oversee the country's biggest banks, has said it plainly — he's no expert on banking. Lew said as much when the Senate was vetting him to head the White House Office of Management and Budget in 2010.
Sen. Bernie Sanders, I-Vt., asked Lew if he thought deregulation of Wall Street caused the financial crisis. Lew said he didn't consider himself the best person to answer that question.
Quite a few families with expensive job-based health insurance may be ineligible for federal subsidies to help them buy cheaper coverage through new online insurance markets, under final rules released Wednesday by the Internal Revenue Service.
The two rules, published by the Treasury Department here and here, uphold earlier proposals outlining what is considered affordable, employer-sponsored coverage.
The federal government hit its debt limit at the end of last year. Since then, the Treasury Department has been taking what it calls "extraordinary measures" to keep the government funded and avoid defaulting on U.S. obligations.
But those measures will run out sometime between the middle of February and early March. Then it's up to Congress to raise the debt limit.
House Republicans are wrestling with the best strategy at a retreat Thursday and Friday in Virginia. And some have been denying that there is a risk of default if the debt ceiling isn't raised.