Obama nominates Jack Lew as Treasury Secretary - New York News

Obama nominates NYC native Jack Lew for Treasury Secretary

Posted: Updated:
In this Feb. 15, 2011 file photo, Budget Director Jack Lew testifies on Capitol Hill in Washington. Two senior administration officials say the White House chief of staff, William Daley, is resigning. He's being replaced by Jacob Lew. AP Photo/J. Scott In this Feb. 15, 2011 file photo, Budget Director Jack Lew testifies on Capitol Hill in Washington. Two senior administration officials say the White House chief of staff, William Daley, is resigning. He's being replaced by Jacob Lew. AP Photo/J. Scott

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.

  • Queens NewsQueens NewsMore>>

  • A history classroom in the real world

    A history classroom in the real world

    Monday, September 15 2014 7:09 PM EDT2014-09-15 23:09:49 GMT
    When Denis Belliveau is teaching kids about Marco Polo, he is in his element. He makes the explorer's journey come alive by taking students on a No. 7 train ride through Queens, New York's most diverse borough. He brings history alive for his students. Along the way the students stop in neighborhoods that mirror Polo's trip. I caught up with the class in Flushing, Queens, which easily resembles China.
    When Denis Belliveau is teaching kids about Marco Polo, he is in his element. He makes the explorer's journey come alive by taking students on a No. 7 train ride through Queens, New York's most diverse borough. He brings history alive for his students. Along the way the students stop in neighborhoods that mirror Polo's trip. I caught up with the class in Flushing, Queens, which easily resembles China.
  • NJ, NY officials meet about security

    NJ, NY officials meet about security

    Monday, September 15 2014 5:50 PM EDT2014-09-15 21:50:11 GMT
    With new concerns about home grown terrorism becoming more urgent, city and state officials -- including New Jersey Gov. Chris Christie, New York Gov. Andrew Cuomo, and New York City Mayor Bill de Blasio -- met with Homeland Security Secretary Jeh Johnson to devise new strategies. NYPD counterterrorism police stood watch outside the Midtown Manhattan meeting where city, state and federal law enforcement officials coordinated their new security plans.
    With new concerns about home grown terrorism becoming more urgent, city and state officials -- including New Jersey Gov. Chris Christie, New York Gov. Andrew Cuomo, and New York City Mayor Bill de Blasio -- met with Homeland Security Secretary Jeh Johnson to devise new strategies. NYPD counterterrorism police stood watch outside the Midtown Manhattan meeting where city, state and federal law enforcement officials coordinated their new security plans.
  • Cabs for women driven by women

    Cabs for women driven by women

    Monday, September 15 2014 3:14 PM EDT2014-09-15 19:14:45 GMT
    Taxis come in yellow, green, black, and now... hot pink? They're called SheTaxis and they are from a cab service for women by women. (The cabs aren't actually pink, but drivers will carry pink pashminas.)The service is coming to New York this week. You could almost think of it as an all-female Uber.
    Taxis come in yellow, green, black, and now... hot pink? They're called SheTaxis and they are from a cab service for women by women. (The cabs aren't actually pink, but drivers will carry pink pashminas.)The service is coming to New York this week. You could almost think of it as an all-female Uber.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices