that is how treasury secretary jack lew says what needs to be done.t guest says more needs to be done. carly fiorina helped out on some presidential campaigns. the president argued to me for raising the minimum wage. take a listen to what jack lew said. >> i don't feel it is right to work for 40 hours and take home pay below the poverty line. >> for him, it is an issue of economic justice. the congressional budget office said it would lift 1 million people out of poverty with the minimum wage raise. you have the companies like the gap, carly,ntarily raising minimum wage for 65,000 people. should the federal government force companies to do it or should companies start doing it like the gap. >> i think first of all, the many, many companies pay above the minimum wage. as demand rises and productivity rises, wages rise. we know that. i understand the appeal of the minimum wage. i understand the ethical argument. the facts are the minimum wage increase helps people who have a job. it doesn't help people who don't have a job. it particularly doesn't help

>> rose: welcome to the program, tonight jack lew, secretary of the treasury who came for a conversation at about the same time that senate passed a debt ceiling rise following the house action yesterday. >> when you make decisions in constrained resources, you are fundamentally deciding if you can't have everything what is most important, and i don't believe -- i believe that hardest decisions in budgeting are not choosing between good and bad things, the there are disagreements people have, the hard thing in budgeting is when you can't have all the good things you want, which ones are most important, and it is making those decisions correctly in a way that reflects your values and build as foundation for the future that is really a challenge. >> rose: jack lew, secretary of the treasury, for the hour, next. >> funding for charlie rose is provided by the following. >> >> i have been around long enough to recognize the people out there owning it. >> the ones getting involved, staying engaged. they are not afraid to question the path they are on. because the one question they never want t

treasury secretary, jack lew to ask him that question.ed about minimum wage, income inequality. what did he have to say? >> you know, it's interesting, poppy, because basically, they've gotten more work done in washington the past four months than they did the entire two or three years prior to that, and jack lew, the treasury secretary, remarking that, you know, there seems to be -- he doesn't want to overstate it, but there seems to be this thawing, if you will, in washington, that's allowing them to get some of the president's priorities done. listen to what he thinks that's going to portend for the future. >> you look over the last year, we've gotten a lot done. we've made real progress implementing financial regulatory reform. we've seen a little bit of regularity return to washington, where you know, we had a budget agreement at the end of the year, an appropriation bill in january. the debt limit was approved. there was an agreement after years on a farm bill. and maybe, just maybe we'll be able to for a couple of years continue do

treasury secretary jack lew calling for congress to extend the ceiling. the obama administration sa sayg this country will hit the borrowing limit on friday without so-called extraordinary measures by the treasury department. just over a week ago far from d.c. we anticipated bumping up against the deadline even though people said it would not happen again. i asked the world economic forum about this worry. liz: let me push you. is he correct when he says we could see another debt ceiling battle in february? >> i point back to october what happened during the shutdown and when the secretary of the treasury announced a date by which if we went beyond that day, we would be in the territory of the unknown, somehow we would be in default and america would not pay its bills. none of us want that to happen. liz: well, we might see it happen because republicans are demanding conditions for raising the nation's debt ceiling. they usually do anyway but is there another very serious battle brewing inside the beltway? peter barnes precisely at the time when the marke

i'm pleased to have jack lew back at this table. welcome. i should also say you were chief of staff to the president as well. i assume all those jobs serve you well as secretary of the treasury because of what that job entails. >> i would say that there's nothing i've done that hasn't been helpful in preparing me. there are still great challenges in this job. the combination of the familiarity with the details of federal government that you learn, the managing decisions across complicated organizations, and understanding the political frame in which it happens is all very good training. treasury is a special place and it has been a great honor to be secretary the past year. >> do you believe budgets reflect values? >> i do. when you make decisions with constrained resources, you're fundamentally deciding if you cannot have everything, what is most important. i believe the hardest decision in budgeting is not choosing between good and bad things. the hard thing in budgeting is when you cannot have all the things you want, which ones are most

or isa real deadline, treasury secretary jack lew trying to turn up the heat?> according to the treasury, it is the best guess that they have right now. it could change, but for the time being, jack lew expects the 27th to be the moment when all of those extraordinary measures run out. at that time, they will have about $50 billion cash on hand and they will burn through that quickly. it is tax refund season. in previous years, the irs has had to pay out $10 billion to $15 billion out each day. they could be tapped out any day after that february 20 seven date. less clear is how the threat of default will affect the u.s. credit rating. republicans are meeting this evening to talk through their debt ceiling strategy. what might they ask for? what are you hearing? >> after dropping the keystone pipeline as a possible attachment to last -- to the increase, there are talks of adjusting the cost of living for military retirees. the challenge for boehner is that both of those things will for. will need to be paid and with about 30 house republicans who will not vote

nation, treasury secretary jack lew, what he has to say but the debt ceiling extension and unemployment in america. first, jobs are sizzling out of pepsi. we will look at how much the company is saving from those jobs. and talk about a close call. syracuse's perfect record wasn't saved bythis -- wasn't this buzzer beater. the 19-year-old moved up the court and led 80 three pointer fly. nothing but net. syracuse tops pittsburgh 58-50 six, staying undefeated, 24-0. look at that thing, oh, yeah. oh! ♪ >> this is "lunch money," on bloomberg television, and we are also streaming live on bloomberg.com, your tablet, and your smartphone. i am adam johnson. in company today, it is about health and wellness, even losing a little way. consider pepsi. america's largest food and beverage company beat earnings estimates and forecasts evan percent wrote, but there is a catch. -- 7%, but there is a catch. >> it will be labor savings, and i will come from a variety of ways. it will come from making be distribution center more efficient, it will come from doing shared services with some doing,work we hav

secretary of the treasury jack lew saying u.s. borrowing authority may not last past for very 27. he urged congress to extend the debt. writing that extraordinary measures used by the treasury are may be exhausted in less than three weeks. the maker of cameras filed for an initial public offering. it is working with jpmorgan on the ipo and the company had close to $1 billion in sales last year. those are the top headlines. >> last year 200 million shoppers spent over $1 billion for home goods on wayfarer.com. -- wayfair.com. it is not just an online destination. it is serving as an option for those seeking employment. it was number 18 on the top 100 job creators. i am joined by their executive creative director. let's start talking about the jobs market. i mentioned the dollar volume that is being done. how does this translate into the actual number of people that you need to keep the business running? >> e-commerce is growing so quickly so you're talking about in our case of home business that is about $200 billion. five percent is online. we are talking about $10 billion. that r

treasury secretary jack lew said the country would hit the del debt ceiling. earlier this week, lew said the government would run short of cash to pay its bills by tend of january. on thus, house speaker john boehner said the republicans don't want the u.s. to default. reportedly mulling several ideas the house could consider next week, including tying extension of the restoration to recently cut military benefits. >>> apple has bought back $14 million in stocks since reporting disappointing earnings two weeks ago. apple was surprised by the 8% drop in its shares the day after the earnings report. the company bought back more than $40 billion worth of stock in the last year which cook says is a record for any company over that span. he says it means we're really confident about what we're doing. the move comes just weeks before apple's annual meeting where shareholders will vote on carl icahn's proposal to greatly boost the buyback program. >>> ibm is looking to shed more assets. the financial times reports the sale of its chip business and goldman sachs has be

jack lew. secretary lew is a distinguished public servant. is known as an honest broker and a tough negotiator, a long career in washington from working with tip o'neill to president clinton, two tours of the office of management and budget, mostly for a relaxing as the president's chief of staff. the secretary has many unique traits, but most disorienting, especially in washington these days, is he is liked and respected by just about everybody. which brings us to today. a discussion of the debt ceiling. for the bipartisan policy center, i must admit that congressional irresponsibility has been a cottage industry. as we receive quite substantial out what they deserve credit and putting up essentially the same report six or seven times in the last three or four years. but for just about everybody else in the country this has become a pretty ridiculous and repetitive loan we have revisited on our economy or so to help us understand what are today, it's a great pleasure for, secretary, to ask you to say some words. [applause] >> thank you, jaso

treasury secretary jack lew to create a new way tore working americans to start their own retirement savings, that encourages manner e americans to begin to build a nestegg. >> guess what, he signed it. but will america sign onto it? a government-run savings plan, my ra, putting money into a basically savings bond. gary k. this is coming from a government that can't save even a penny. >> white the i-on-y the government is saying, go ahead, save, we are 17 trillion in debt. go ahead, we can only buy bonds which creates more of our debt. savings is good. i tell people in the public save as much as you can we have iras that can give you choice. >> what do you make of it, charlie? >> what is so dumb is you can do this already. you boo atreasury bond. >> why get involved? >> this is a huge stupid public relations ploy. it is dumb. you can go out. you don't need this to buy treasury bonds. what he is basical saying to employers is help us run massive deficits. >> what is it? what is it? >> he's not saying why don't you invest in competent america. he's saying, buy our debt. >> it won't amo

over three you begin to understand the debate that jack lew delivered.ntries -- their responsibility to drive demand. those are the comments coming through. suffering from a disinflation cycle in europe. a threat -- the threat is you are looking at a japan style economic threat. that draghi himself denied at the news conference. >> what is in the toolkit? , withn you look at it some levelheadedness, you have to say -- could quantitative easing -- i caught up with head of the ecb. possible to have qe. but that is a big ask. those are the two mission-critical issues for the ecb to consider. they have downgraded their review on inflation and growth for 2013. and and mark, back to you. >> it has been a week for chinese economic data. this morning, we got inflation. let's go to hong kong for the details. >> beijing ridge east -- released its inflation data five hours ago. much --saw was not that just about what was forecast. forcoming in at 2.5% january. that was about the same exact growth we saw in prices for the month of december. wholesale prices, which e

secretary jack lew is calling on congress to act quickly to raise the nation's borrowing limit. a temporary suspension of the debt ceiling expires friday after it was passed in october following the government shutdown. jack lew warned a delay because the united states to default on its obligations by the end of the month. without borrowing authority, at some point very soon, it would not be possible to meet all of the obligations of the federal government. the longer we wait, the greater the risks become. whether it is the economic recovery in the financial markets, or the dependability of social security payments and military salaries, these are not things to put at risk. >> major internet firms in the u.s. have begun releasing data about the amount of user information they secretly handover to the government. a legal deal reached last week allows the companies to disclose broad details about the number of orders they receive from the secret foreign intelligence surveillance court. example, reports it received fisa requests for user content affecting at least artie thousand ac

starting tomorrow, the treasury secretary, jack lew, said that he will depolite extraordinary measures, but if nothing happens, the u.s. could default its on obligations starting in march. once again, only a federal budget can limit spending and congress has not negotiated or passed a new budget in five years. without a long-term deal, americans will continue to feel this uncertainty that washington breeds. businesses could hold off on hiring and consumers could not spend. we're seeing signs of that now, so what is washington waiting for? joining me now, correspondent, libby casey, and she spends a lot of time on adapt hill. and libby, john boehner insists there will be no default so congress has to vote to raise this debt ceiling. this is weird. and we're in the vortex, and john boehner doesn't want it to happen. >> speaker boehner carries a lot of weight, but republicans are not ready to come to the table quite yet. and they're talking about raising the debt ceiling, as they have done before, and they want something in return. so a couple of ideas, tying it to the approval of the key

jack lew says the administration can use accounting measures to stay under the new cap until the end of february, but it will be difficult. >> without borrowing authority, it would not be possible to meet the obliges of the federal government. given the realities, it's imperative that congress increases borrowing authority. the truth is the longer it's waited, the greater the risk to come. whether it's economic recovery, financial markets or dependability of payments or military salaries, these are not things to but at risk. >> the first woman to head the central bank has taken her oath of office. janet yellen replaces ben bernanke as the chair of the federal u.s. reserve. she will oversee the winding down of a package, and keep an eye on unemployment and inflation. >> the state of california asked google to move a mysterious 4-storey barge under construction in the san francisco bay. it says goog le does not have the appropriate paperwork. plans to build an interactive space for people to learn about technology is what it was. >> as part of a 2-year pilot program to increase roadsid

we'll hear from jack lew this morning. >>> coming up, the plan to keep americans safe in sochi as newrget russia just days before the winter olympics. we are live with the latest on that, next. [ garner ] there's a lot of beautiful makeup out there to cover up flaws and make skin look pretty. but there's one that's so clever, it makes your skin look better even after you take it off. neutrogena healthy skin liquid makeup. 98% of women saw improvement in their skins' natural texture, tone, or clarity. does your makeup do that? neutrogena® cosmetics. recommended most by dermatologists. [ car alarm chirps ] ♪ [ male announcer ] we don't just certify our pre-owned vehicles. we inspect, analyze, and recondition each one, until it's nothing short of a genuine certified pre-owned mercedes-benz for the next new owner. [ car alarm chirps ] hurry in to your authorized mercedes-benz dealer for 1.99% financing during our certified pre-owned sales event through february 28th. pre-owned sales event (voseeker of the sublime.ro. you can separate runway ridiculousness... from fashion that flies off th

treasury secretary jack lew wants japan to do more to boost domestic demand. that's a key item on his agenda for this weekend's meeting of g-20 finance ministers and central bank chiefs in sydney, australia. lew says domestic demand has powered japan's economy in the past two years but he's worried whether it can continue to drive the country's growth. and says japan should push structural reforms. lew made those comments in a letter to fellow delegates attending the upcoming g-20 meeting. he says the u.s. wants g-20 delegates to discuss what japan can do to minimize the effects of the sales tax hike. officials attending the talks will also discuss how the tapering of the u.s. fed stimulus program is affecting currencies in emerging markets, and how that may impact the world economy. lew dismisses those concerns. he says the u.s. economic recovery will have a positive effect on global growth. >>> now let's have a check on the markets. european equities are actually trading lower at this moment. london's ftse is down almost 0.3%. paris is trading lower, as well

. >> in case congress didn't here in the first time, jack lew again warned that the government will not be able to pay its bills by the end of the month. lew said that the government will be unable to pay its months. the debt limit was suspended through today, february 7. february 8th it will be reset to its current level. >>> the new farm bill is now law. we'll take you to the last working dairy barn in tecumseh, kansas. we have those stories and more as "real money" continues. keep it here. >> ...can invent , profit, and change the world. prizes could spur innovation in extrodanary ways... >> ex prize founder, peter diamandis talk to al jazeea on al jazeera america >> start with one issue education... gun control... the gap between rich and poor... job creation... climate change... tax policy... the economy... iran... healthcare... ad guests on all sides of the debate. >> this is a right we should all have... >> it's just the way it is... >> there's something seriously wrong... >> there's been acrimony... >> the conservative ideal... >> it's an urgent need... and a host willing to ask

four of the 15 cabinet members have any private sector experience, and by the way, two of those, jack lewh existing coal plants. on n construction of coal plants. the existing coal plants will not races yourrice of energy. number two, energy is delivered on long-term contracts. even if itid skyrocket, then it would not reach you at the home level. number three, all of those coal companieshat have shut down, you know why? it was free market. they've already been making the transfer to, what? natural gas. not some obama-sponsored hoo-ha. >> look what happens to arch coal, for example. look at a three-year chart for that compy. is practically flatlines now. they're klling the coal companies and jobs. a lot of the democratic senators are against what the administration is doing that dprum coal stas. >> i support the administration's war on coal if nor aun pra tra neural and let the shale oil and gas people and the next generation nuclear people proceed at a faster rate. w york had a big horse manure pollution problem 120 yrs ago, and itwasn't the epa that stoppeit. there was no epa. it was he

. >> in case congress didn't here in the first time, jack lew again warned that the government will not be able to pay its bills by the end of the month. lew said that the government will be unable to pay its months. the debt limit was suspended through today, february 7. february 8th it will be reset to its current level. >>> the new farm bill is now law. we'll take you to the last working dairy barn in tecumseh, kansas. we have those stories and more as "real money" continues. keep it here. >> fault lines hard hitting... ground breaking... truth seeking... al jazeera america's breakthrough investigative documentary series. >> this is where colombia's war continues... >> decades of violence... familes driven from their land... >> we have to get out of here... >> now the people are fighting back. >> they don't wanna show what's really going on >> fault lines columbia: the fight for land only on al jazeera america >> worker pay and income ineye quality are hot-button issues in america. there were an estimated 3.7 million workers paid at or below the federal minimum wage of $7.25 an hour

. >>> and victim of a horribl >>> tonight, federal officials jack lew is working in kiev with marine s th marines that have been taken there. protesters who took over the government are policing the independence square and the country's former president is still on the run. >>> in nigeria tonight, mass murder and 58 students were killed when islamic students kill cann e-- killed students locked in a dormitory. they are the same militants who attacked in northern nigeria and killed 58 people in that incident. they are fighting against western education, and they want to impose shariah law in that count country. >>> a verdict in fairfax county of a deadly road rage case, and the case is a disappointment to both the victim and the defendant. julie carey is joining us live from the courthouse with the latest than. >> well, the jury staked out the middle ground with the verdict finding lee cena guilty of assault, but knot both assault and battery. the former religious educator at st. leo the catholic church refused comment after the verdict, and so did the family of william o'brien who di

he sent a letter to treasury secretary jack lew and fed chair janet yellen, saying the currency is unregulated and allows illegal activity. earlier in the week, bitcoin's exchange, mt. gox, went offline after a series of cyber-attacks. customers lost about $350 million in bitcoins, with no solution for recovery. identity theft tops the list of pricey consumer complaints. consumers lost $1.6 billion to various types of fraud in 2013, according to the federal trade commission. also making the list along with id theft.. credit card theft, false debt collection notices, payday loan charges, government imposter debt claims, and unexpected telephone and mobile charges. in our cover story, "everybody wins at the oscars." that the name of the gift bags that last year, were filled with 48-thousand dollars' worth of stuff-we-all-get---swag for short. and for the companies that provide the goodies--- seeking good publicity---it's in the bag. the storefront of terry's toffee's and shelves inside are all dressed up for the oscars. this marks the tenth year, the little shop on chicago's west side has produc

jack lew is reiterating to members of congress that it's time to act now.ing his guidance on when the debt ceiling could be breached. he says based on our most -- our best and most recent information "we are not confident the extraordinary measures we are now putting in place today will last be thursday, february 27." at that point the treasury would left -- be left with only cash on hand. it is estimated that would be $50 billion. that could be above or below that level depending what happens the next few weeks. roughly ino out refunds from the iris at that point, also expenditures from the government nets -- from the irs at that point, also expenditures from the government arnett at that point. and not of default making payments would begin at that time. >> peter, it is julie. is the difference now it is a specific date, because he was already talking about the end of february here? is this just a way of ratcheting up pressure on republicans? >> it is a way of ratcheting up pressure. the previous guide was the best estimates it could come up with. now he

jack lew is telling us that the 27th is d-day. start using those extraordinary measures. between, you have house democratic members going on their retreat. the house is out of session. both house and senate out next week. they have to do something sooner rather than later. you not expect to see republicans -- do not be surprised to see republicans put something on the table this week. >> i love to play it be in-house cynic. its for very 27th real or is jack lew trying to turn up the heat and make something happen? >> it is real in terms of the best guess that they can put on the table now. it is the moment when the departments extraordinary measures will run out. it all depends on the cash coming in and going out. here's what he told us. he says they will have $50 billion on hand. because it is tax refund season, 10-15,000,000,000 dollars per day goes out. there are expenditures are as much as $60 billion per day. it is also possible they could get more cash in. there is a risk. that risk is what the treasury department hopes to avoid. they do not want to let the threat o

russian envoy been poisoned and want to rush has been sighing meanwhile the us treasury secretary jack lew says the united states is ready to work with russia and other countries what he called restoring democracy in ukraine. the remarks followed a meeting between new and his russian counterpart and taunts of the on off on the sidelines of a group of twenty meeting in sydney. you said the us is ready to assist you crying. as it implements reforms to restore economic stability and growth you're watching cctv news will have all stories for you very shortly. fan. it was windy. the position. it's just that. the alarm in him rule was. i know. such culture extends. the war the eye. welcome back to watching cctv news coming here from beijing. and there were focusing on thailand where the ruling coffee the cuts hyun has accused the anti government people's democratic reform committee a planning to overthrow the caretaker administration of being auctioned a loss by the middle of april. is it really starts person and so on is the ma and warned the plan would create a political vacuum and lead to vio

us treasury secretary jack lew wants japan to do more to boost domestic demand that's a key item on its agenda for this weekend's meeting of g twenty finance ministers and central bank chiefs in sydney australia loose as domestic demand as power japan's economy in the past two years but he's worried whether it can continue to drive the country's growth and says japan should push structural reforms. whew made those comments in a letter to fellow and two fellow delegates attending the upcoming g twenty meeting he says the us wants g twenty delegates to discuss what japan can do to minimize the effects of the sales tax hike. officials attending the talks will also discuss how the tapering of the us festival this program is affecting currencies in emerging markets and how that may impact the world economy who dismisses those concerns he says the us economy recovery will have a positive effect on global growth. new new new. japanese snowboarder toll will contact you. she has won a silver medal at the winter olympics in sochi she competed in the world in the women's parallel giant slalom kaya

i sat down with treasury secretary jack lew for an exclusive interview saying the president is doing what he can but it's up to congress to raise the pay for low-wage workers. >> i don't believe it's right for people to work for 40 hours and take-home pay below the poverty line. the president made it clear as a country we have to make sure if you work full-time you're at least at the poverty line. >> you think can you get that done this year? i know the president has done an executive order on a small sliver of the federal workers? >> we'll keep pushing at it. it's obviously not in our power to force congress act but question make the case for it and the american people and continue pressing because it's the right thing to do. states are taking action on their own and in many states doing it, their economies are doing well, and i think that it's just snag we need to do. >> cbo gave the people that were against it a job loss, it would be a poverty alleviation program on the backs of small businesses who'd have to pay for it. >> if you look at that cbo report it showed it would take al

jack lew says we have the risk of running out of cash. it may not be enough to handle the tax refund in daily expenditures the government has. lawmakers are not here to cut a deal before then. i feel like we're always talking about this once a year. what makes this more extreme? >> it is not more extreme. neither side wants a crisis. a do not want another showdown but they have to come up with some sort of deal. republicans behind these closed doors have to come up with something palatable to most of them around the conference table. there will be about 30 who will not vote for any increase whatsoever. john boehner's looking at ideas that maybe could attract democratic votes as well. election.t the most likely path is reversing the cost-of-living adjustment for the military that is part of the budget deal. neither party likes that right now. we have to pay for that as well, 6 billion bucks. >> thank you. it is time for our big story. tomorrow morning janet yellen is going to get her first testimony as head of the central bank. investors w

treasury secretary jack lew is in china.ments on the show. >> cyber security and cyber theft are somewhat different issues and it's important to distinguish them. the issue that we've raised with china is the protection of intellectual property and policies where there's a theft of intellectual property are just unacceptable for a country who wants to sit at the table and makes the rules for the world. china sees itself in the country that should have a voice in making the rules for the next generation. they can't have it both ways. >> you can watch the entire interview tonight. >> france's biggest bank posts a surprise drop in profits. setting aside more than $1 billion. staff will get less compensation. >> if you talk about it of course there is a certain elasticity the as we said earlier the results have come down so we will see that in the bonuses. the process is a very detailed process which is ongoing so it might be different from business to business. there is elasticity between the revenues and bonus pools. >> and ap

treasury secretary jack lew will speak today on the economy in san francisco. it's a very busy day. >> let's do a data check -- we have elevated hydrocarbons. the next screen shows us foreign exchange. golub will join us with a hugely bullish call in this hour. r. on the bloomberg terminal, it's the ruble basket. the 2008 with a weaker ruble and this is good news for vladimir putin and this weakness of the ruble is really breaking out to a new level after a $2 billion transaction over the ukraine. >> what is so curious about this chart is you realize -- this is the ruble in dollar terms, you are getting more rubles for the dollar -- you look at the spike to 2009. look where we are now, we are back to the same amount of stress. never did go back down. we never exhaled. we will talk again to ian bremmer in moments. overnight, the president of the ukraine threatened to crackdown on antigovernment protests and this was the worst night of violence. at least 25 people have been killed. is a shot ofseeing the central scare in kiev where the protesters built eric hayes

of thatan watch all interview with treasury secretary jack lew tonight on "charlie rose," at 8:00 p.mastern. >> it's time for bloomberg to go on the markets. when we look at u.s. stocks, the indices have been grinding higher and are now positive. the s&p up i nearly five points, up a quarter of one percent . .2 stocks are higher eight are down, led by cisco. at 2.7 four percent. there is a 30 year bond option later on today. the bank of england's chief economist says interest rates will increase within two years. you're seeing that interest-rate differential come into play. oil easing from a four-month high but still trading above that $100 a barrel mark. individual movers, you were talking to john chambers earlier. cisco falling this morning after it forecast declining sales. the company said it is because of weakness in emerging markets. hen told you earlier that thinks the internet of things will make the majority of his business. the natural gas boom may lead into another area. we will talk about made in the usa. >> billionaire tom stier sets down for managing money. ons is "marke

treasury secretary jack lew said europe can do -- u.s. for growth. >> if you look at the world economy, the u.s. cannot grow at a rate fast enough to pull the whole world along. the difference between 3% and 3.5% makes a world of difference in the united states, but it is not enough to make up for losing a percent in europe or losing a percent in china or losing a percent in japan. you have to look at these major parts of the world economy and say, what can they do to grow more? we have been clear in europe that we think the countries that have growth could do more to stimulate demand. the world needs more demand. >> you can watch that full interview on "charlie rose" tonight. >> rio tinto's latest earnings and why the market may be missing the true value of mining. >> hello. welcome to "countdown." i'm mark barton. >> and i'm anna edwards. >> earnings. >> a lot of earnings to get through. here is one of the more interesting ones. rio tinto. that's in the mining section. ining us now, senior analyst paul bernstein. weigh in on this busine

member in two thousand and eight or are now they've got janet yellen over in the fed and they've got jack lew in the treasury they'll go down to washington and all say look i know i broke the law but if you prosecute me i'm going to crash the stock market there's no no no extortion you know that in there he's a brilliant he's a he's a brilliant at extortion he's a brilliant his business model when you say what you think of his business model i mean his business model of extortion he's a brilliant extortion and i don't know why jail i mean i thought i thought america has a policy against this type of thing in other countries they arrest people and put them into jail for acts of you know what they call terrorism i want to ask you are you surprised that no high level officials at american banks have been prosecuted for misdeeds specifically associated with the housing bubble and financial crisis does this surprise you. well because you have a the government is is reliance on their donations for their reelection campaign so there's an on healthy symbiotic relationship between a corrupt banking cl

jack lew spoke on cnn this morning and this is what he had to say about the minimum wage debate. >> ifook at the cbo report, it shows it would take almost one million people out of poverty. one thing about american people generally, if they're doing well, they don't begrudge other people to do well. it is not in our power to force congress to act, we will make a case for it and have the american people make a case for it. >> how small companies face the challenges, the ceo tells us how he wins over online subscribers. g.i. joe action figure has been around for 15 years. we will talk about how he has changed over the decades and how he has not changed. ♪ >> this is "lunch money." i am adam johnson. today in start up, we are looking at small companies growing big. we will start with box, the online filesharing storing service that has about 20 million users spread out over 180,000 businesses. here's the ceo with jon erlichman. >> we are trying to build a long-term company and that is the path we are on, staying independent. >> your focus on business. dropbox is another company in the are

then live coverage with treasury secretary jack lew on the need for congress to raise the debt ceiling. and later, more live coverage from the center for the national interest on u.s./russia relations and how the sochi winter olympics have spotlighted issues, including russia's counterterrorism cooperation and human rights practices. and at 2:00 eastern, or the senate returns for debate and a procedural vote on the farm bill.

jack lew is reiterating it is time to act. the best and on most recent information, we are not confident -- now confident the extraordinary measures will last be on thursday, february 27. at that point, treasury would be left with only the cash on hand and incoming revenue to meet the country's commitment. the amount oft cash at $50 billion. >> $50 billion, the government earns through that in a day >>. . in10-15,000,000,000 goes out refunds per day. -- 10-15 billion goes out in refunds per day. washington needs to keep honoring the order to pay the bills and avoiding a default. just like last time when the government shutdown for 16 days, john boehner and a curious position. >> there are about 30 house republicans will not vote for any debt ceiling increase, no matter what they have attached to it. that is his problem. he knows of the end of the day he has to have something on the house floor that will pass with most of his republican members, but he will have to get democrats to back it as well. >> the house speakerall too w

jack lew said the administration has less flexibility with it than in previous standoffs because treasury is entering the height of tax filing season, so it needs its cash for tax refunds. while his boss, president said iin the state of the union address last week, he still wants a grand bargain with republicans on the budget. said not this year. >> i am not sure this is the year for a long-term fiscal challenge to be dealt with, i actually believe we made so much progress in the short and medium term. we have time to deal with the longer term. >> he demanded a clean increase in the discipline with no conditions, republicans continue to say they will not allow a debt default, but they are still considering provisions to attach to any increase in the debt ceiling including repealing the reassurance tax on obamacare and the medical device tax, some republicans are pushing for more spending cuts this time around or even a balanced budget amendment to the constitution. dagen and connell. dagen: thank you. from washington, d.c. steve moore, change jobs, chief economist at the heritage foundati

jack lew says congress has until the end of the month to raise the debt ceiling. business reported earlier this week that house republican leadership center host of ideas to attach to a debt limit increase, none were popular enough to pass the house so it appears republicans may relent. >> neither party wants to turn to a crisis that we have seen in previous iterations of the debt ceiling. if you are a republican you want to be seen as competent and do the basic fundamental jobs of congress, one of which is raising the debt ceiling. leaders just want this to go away. it is not entirely evident how that goes away but ultimately it will be increased before the end of the month deadline. connell: house leadership is still trying to figure out what they can attach to a debt ceiling increase. other republican aides acknowledge they have run out of ideas and no house republicans have never passed and increasing the debt ceiling under president obama without democrats' votes. house has been in for some of next week before taking off the following week and lawmakers will