President Obama will nominate White House chief of staff Jack Lew for Treasury secretary to replace Timothy Geithner, as soon as Thursday, Bloomberg reports.
Politico: ”In doing so, Obama is throwing Lew straight into the middle of an increasingly nasty budget war, the likes of which Washington hasn’t seen since the mid-1990s.”
“Lew should be prepared for this type of fiscal and political environment, though — he helped President Bill Clinton strike the 1997 balanced budget accord as a top official at the Office of Management and Budget, the agency he has since run for both presidents. And Lew played an important role in the contentious 2011 debt ceiling debate.”
According to Kevin Roose, the downside to Jack Lew: Lew’s terrible signature would be on our money