It's official: Obama nominates Lew to lead Treasury
WASHINGTON (AP) - President Barack Obama is announcing Treasury secretary nominee Jack Lew, pointing to his past work of balancing budgets during the Clinton administration.
The president says he feels "bittersweet" about losing Lew as his White House chief of staff but says "my loss will be the nation's gain."
He notes that Lew was budget director during the Clinton administration, when the budget ran a surplus for three years.
Lew is taking over Treasury as the administration prepares for a new fight with congressional Republicans over the nation's debt and deficits.
If confirmed, he will replace Treasury Secretary Timothy Geithner, who led the department through the economic turmoil of the first term.
This guy probably coined the phrase.."We don't have a spending problem, we have a revenue problem.". I hear they are thinking of taxing the fue vaccines to raise more money. Then they wonder why our insurance premiums are going up.Â
Kerry, Hagel, Brennan, and now Lew, all white males. This only means one thing... obama is a racist.
Jack doesn't look very happy in the picture.  I didn't know Timothy Geithner was Treasure Secretary, I thought he worked for Goldman Sachs.
Ugh.
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Jacob Lew, a bailed-out Wall Street insider (Citigroup) was Clinton's budget director when the latter signed the Financial Services Modernization Act of 1999 and the Commodity Futures Modernization Act of 2000... which deregulated the financial industry with catastrophic results.
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The phrase "failing upward" comes to mind.