Ex-Treasury Sec. Lew says tax plan is 'ticking time bomb'

Treasury Secretary Jacob Lew says the GOP's tax cuts are leaving the U.S. broke. Photo: Mark Makela / Getty Images

Jacob Lew, former Treasury Secretary under Barack Obama, told Bloomberg radio that the GOP tax cuts will substantially drive up the deficit and leave America "broke":

Quote"It's a ticking time bomb in terms of the debt... What we've seen is a tax cut that spends money we don't have to have very concentrated benefits for global corporations and the top 1 percent, and it's leaving us broke."