Arab Today, arab today obama to nominate jack lew for treasury secretary
Last Updated : GMT 07:28:42
Arab Today, arab today
Arab Today, arab today

Obama to nominate Jack Lew for Treasury Secretary

Arab Today, arab today

Arab Today, arab today Obama to nominate Jack Lew for Treasury Secretary

Washington - AFP

President Barack Obama will unveil Washington veteran Jack Lew as his new Treasury Secretary Thursday, as he girds for a fateful new spending showdown with Republicans early in his second term. Obama will formally nominate Lew, his current chief of staff, to succeed Timothy Geithner, a key player in his efforts to salvage the US economy, in the East Room of the White House at 1:30 pm (1830 GMT) a US official said. \"Jack Lew will bring an impressive record of service in both the public and private sectors for over three decades and economic expertise to this important role,\" the official said. \"His deep knowledge of domestic and international economic issues will enable him to take on the challenges facing our economy at home and abroad on day one.\"Lew, 57, is a classic Washington insider, who will not need a cramming session to get up to speed on the complex budget, tax and economic rows consuming Washington -- one reason why Obama may have leaned towards him. There had been some reports that the president might choose a corporate CEO or a Wall Street luminary for the role, but such a pick could leave the neophyte Treasury secretary adrift on tricky political currents. Lew has twice served as Director of the Office of Management and Budget -- for Obama and former Democratic president Bill Clinton. His nomination -- which must be confirmed by the Senate -- will come in a week in which Obama rounded out his second term national security team, notably picking former Republican senator Chuck Hagel as his new defense secretary.Another member of Obama\'s economic team, Labor Secretary Hilda Solis, made clear Wednesday that she would not be back for Obama\'s second term. Obama praised the Hispanic former lawmaker as a \"tireless champion for working families\" and said she had been a critical member of his team in helping the economy recover from the worst recession since the 1930s. Sources familiar with Lew\'s situation highlighted elements of his resume relevant to the tough situation he would inherit, with Obama and Republicans feuding over taxation and spending crises coming to the boil. They noted that under Clinton, Lew was part of the team which negotiated a deal with a Republican Congress to balance the US federal budget, which created a surplus, in contrast to today\'s $1 trillion-plus deficits.As head of the Office of Management and Budget, Lew led negotiations earlier in Obama\'s first term to cut spending with Republicans and helped frame deficit cutting plans. He has also served as deputy secretary of state and worked in the past on Capitol Hill. If confirmed by the Senate, Lew would take the helm as Obama is locked in a row with Republicans over his demands for a raising of the current $16 trillion borrowing limit, without which Washington could default on its debt. He would also face other clashes with congressional Republicans on huge automatic fiscal cliff spending cuts put off during a New Year political crisis for two months but due to reach fruition again at the end of February. Geithner made it known that he did not want to serve a second term at Treasury. He is expected to leave by month\'s end. The Treasury secretary had previously delayed his departure to help Obama maintain the economic recovery and to play a major role in the successful effort to avert the fiscal cliff budgetary crisis. Obama will be under pressure to replace Solis and other outgoing members of his cabinet with female candidates, following complaints that his selections so far have shown insufficient diversity. White House spokesman Jay Carney insisted however on Wednesday that women were key players at the top of the president\'s inner circle, after a front page photo in the New York Times ruffled the White House by showing Obama surrounded by male advisors.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama to nominate jack lew for treasury secretary Arab Today, arab today obama to nominate jack lew for treasury secretary

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday