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Former Treasury Secretary Lew Says Tax Cuts Will Leave the U.S. Broke

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The tax bill does the opposite of what anxious voters were calling for says Jack Lew, former U.S. Treasury Secretary.Source: Bloomberg

Former U.S. Treasury Secretary Jacob J. Lew said the Trump administration’s decision to add a significant amount of debt through last year’s tax legislation is leaving the country broke.

“It’s a ticking time bomb in terms of the debt,” Lew said in a Bloomberg Radio interview with Tom Keene and Jonathan Ferro. “You cannot run a fiscal policy by spending trillions of dollars you don’t have at a time that the economy is doing well.”