Obama nominates Jack Lew as Treasury Secretary - Fox 2 News Headlines

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>>

  • NYC Council bill to make kids' fast food healthier

    NYC Council bill to make kids' fast food healthier

    Thursday, August 21 2014 12:09 PM EDT2014-08-21 16:09:20 GMT
    Happy Meals might soon need to get healthier.  A New York City councilman is introducing legislation that would set stricter nutritional standards for meals served with toys.
    Happy Meals might soon need to get healthier.  A New York City councilman is introducing legislation that would set stricter nutritional standards for meals served with toys.
  • Five Guys offers bacon milkshakes

    Five Guys offers bacon milkshakes

    Wednesday, August 20 2014 6:47 PM EDT2014-08-20 22:47:08 GMT
    Burger chain Five Guys is testing the adage that everything tastes better with bacon. It is rolling out a customizable milkshake program and along with bananas, peanut butter, Oreo cookies, salted caramel, you can chose bacon.  Yes that's right: a bacon milkshake.
    Burger chain Five Guys is testing the adage that everything tastes better with bacon. It is rolling out a customizable milkshake program and along with bananas, peanut butter, Oreo cookies, salted caramel, you can chose bacon.  Yes that's right: a bacon milkshake.
  • Cardinal, leaders meet about NYPD-community relations

    Cardinal, leaders meet about NYPD-community relations

    Wednesday, August 20 2014 6:43 PM EDT2014-08-20 22:43:05 GMT
    Timothy Cardinal Dolan gathered religious and city leaders with the focus of how to ease tensions between police and the community in advance of this Saturday's march to protest the death of Eric Garner. Some of the leaders in this group are rarely photographed together, let alone seated at the same table. But they were brought together over concerns about possible protest violence by the cardinal, one of the most powerful figures in the city and who commands respect across the board.
    Timothy Cardinal Dolan gathered religious and city leaders with the focus of how to ease tensions between police and the community in advance of this Saturday's march to protest the death of Eric Garner. Some of the leaders in this group are rarely photographed together, let alone seated at the same table. But they were brought together over concerns about possible protest violence by the cardinal, one of the most powerful figures in the city and who commands respect across the board.
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

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