Opinion | Five Former Treasury Secretaries: Our Democracy Is Under Siege
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Guest Essay
Five Former Treasury Secretaries: Our Democracy Is Under Siege
Feb. 10, 2025
Credit… Damon Winter/The New York Times By Robert E. Rubin Lawrence H. Summers Timothy F. Geithner Jacob J. Lew and Janet L. Yellen
The writers are former Treasury secretaries.
When we had the honor of being sworn in as the 70th, 71st, 75th, 76th and 78th secretaries of the Treasury, we took an oath to support and defend the United States Constitution.
Our roles were multifaceted. We sought to develop sound policy to advance the president’s agenda and represent the economic interests of the United States on the world stage. But in doing that, we recognized that our most fundamental responsibility was the faithful execution of the laws and Constitution of the United States.
We were fortunate that during our tenures in office no effort was made to unlawfully undermine the nation’s financial commitments. Regrettably, recent reporting gives substantial cause for concern that such efforts are underway today.
The nation’s payment system has historically been operated by a very small group of nonpartisan career civil servants. In recent days, that norm has been upended, and the roles of these nonpartisan officials have been compromised by political actors from the so-called Department of Government Efficiency. One has been appointed fiscal assistant secretary — a post that for the prior eight decades had been reserved exclusively for civil servants to ensure impartiality and public confidence in the handling and payment of federal funds.
These political actors have not been subject to the same rigorous ethics rules as civil servants, and one has explicitly retained his role in a private company, creating at best the appearance of financial conflicts of interest. They lack training and experience to handle private, personal data — like Social Security numbers and bank account information. Their power subjects America’s payments system and the highly sensitive data within it to the risk of exposure, potentially to our adversaries. And our critical infrastructure is at risk of failure if the code that underwrites it is not handled with due care. That is why a federal judge this past weekend blocked, at least temporarily, these individuals from the Treasury’s payments system, noting the risk of “irreparable harm.”
While significant data privacy, cybersecurity and national security threats are gravely concerning, the constitutional issues are perhaps even more alarming. We take the extraordinary step of writing this piece because we are alarmed about the risks of arbitrary and capricious political control of federal payments, which would be unlawful and corrosive to our democracy.
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