Los Angeles (CNN) - Ramping up his populist economic message as midterm elections near, President Barack Obama on Thursday singled out large companies that maneuver through legal loopholes to avoid paying U.S. taxes as “corporate deserters.”
Those firms have effectively renounced any allegiance to their home country, Obama claimed during remarks at a community college here.
WASHINGTON (CNN) - Five years after the economic collapse, President Barack Obama warned Americans on Saturday that if Congress does not pass a budget to prevent the government from shutting down, the nation could be headed toward another fiscal calamity.
"After five years spent digging out of crisis, the last thing we need is for Washington to manufacture another," Obama said in his weekly address.
New York (CNNMoney) - A new analysis by a think tank shows that Washington's drop-dead deadline for the debt ceiling could hit as soon as Oct. 18.
Estimating exactly when the Treasury Department will be unable to pay all the bills coming due every day if Congress fails to raise the nation's legal borrowing limit is notoriously difficult.
That's why, in an analysis released Tuesday, the Bipartisan Policy Center put the "X date" between Oct. 18 and Nov. 5.FULL STORY
(CNN) - As Treasury Secretary Jack Lew was undergoing Senate confirmation hearings earlier this year for his Cabinet post, he took some ribbing over his loopty loop signature–one that would appear on printed currency.
A little more than two months into the job, the new secretary is signing documents with a different, more legible 'John Hancock'...errrr...Jack Lew.
(CNN) - Beyoncé and Jay-Z's recent controversial trip to Cuba was approved by the Treasury Department in advance of their travel, new documents show.
According to a letter obtained by CNN Tuesday, the Treasury Department wrote to two members of Congress who called for an investigation of the trip and explained the type of travel license obtained by the superstar couple.
Washington (CNN) - The Senate voted on Wednesday to confirm Jack Lew as U.S. Treasury secretary.
Lew, 57, most recently served as the White House chief-of-staff. He was confirmed with a 71-26 vote. Compared with the bruising confirmation battle of Chuck Hagel as Defense secretary, Lew's was a breeze.FULL STORY
(CNN) - Cabinet reshuffling is common practice as a president begins a second term, and getting those new nominations confirmed quickly is a priority after the inauguration.
President Barack Obama has new candidates for three top positions pending before the Senate. They include the top jobs at the Pentagon, the State Department and the Treasury.FULL STORY
(CNN) - The Treasury Department does not plan to mint a $1 trillion platinum coin to avert federal government default, a spokesman said Saturday.
The statement from Deputy Assistant Treasury Secretary Anthony Coley effectively puts to bed speculation that the administration would act unilaterally to avert default. It also puts the onus on Congress – specifically Republicans in the House - to act.
Washington (CNNMoney) – President Obama will nominate his White House chief of staff, Jacob "Jack" Lew, to be the next U.S. Treasury Secretary on Thursday, according to a White House official.
Lew, 57, has been the leading candidate for months and would be the second Treasury Secretary during the Obama administration. Obama is expected to make the announcement during an early afternoon event in the East Room of the White House.FULL STORY
New York (CNNMoney) – Jack Lew, Obama's presumptive nominee for U.S. Treasury Secretary will face many challenges if he is confirmed - from increasing the debt ceiling to tackling budget cuts.
He may also have to change his signature.FULL STORY