Obama nominates Jack Lew as Treasury Secretary - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

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>>

  • SummerStage: you still have time to catch a show

    SummerStage: you still have time to catch a show

    Monday, July 28 2014 10:22 PM EDT2014-07-29 02:22:53 GMT
    You've got a few more weeks to enjoy SummerStage, New York's annual performing arts showcase that's 28 years running. But it's not just music: there is dance, comedy, theater, you name it. There are several shows weekly at 14 different parks throughout the five boroughs. A recent show at Rumsey Playfield in Central Park paid tribute to Pete Seeger. Most of the shows are free and are funded by tickets purchased for the some of the bigger acts.
    You've got a few more weeks to enjoy SummerStage, New York's annual performing arts showcase that's 28 years running. But it's not just music: there is dance, comedy, theater, you name it. There are several shows weekly at 14 different parks throughout the five boroughs. A recent show at Rumsey Playfield in Central Park paid tribute to Pete Seeger. Most of the shows are free and are funded by tickets purchased for the some of the bigger acts.
  • NY teacher tenure system faces new legal challenge

    NY teacher tenure system faces new legal challenge

    Monday, July 28 2014 10:14 PM EDT2014-07-29 02:14:16 GMT
    An educational advocacy group led by former CNN journalist Campbell Brown is challenging New York state's teacher tenure system, filing a lawsuit Monday that alleges that job protections unfairly shield bad teachers. Seven parents of public school children from New York City and Rochester are the plaintiffs in the lawsuit, filed in Supreme Court in Albany.
    An educational advocacy group led by former CNN journalist Campbell Brown is challenging New York state's teacher tenure system, filing a lawsuit Monday that alleges that job protections unfairly shield bad teachers. Seven parents of public school children from New York City and Rochester are the plaintiffs in the lawsuit, filed in Supreme Court in Albany.
  • New York's microbrew industry growing

    New York's microbrew industry growing

    Monday, July 28 2014 8:39 PM EDT2014-07-29 00:39:52 GMT
    Local and small beer brewing companies have something to toast. The Brewers Association says microbrew sales grew in the first half of this year; up 18 percent over the same period last year. This comes at a time when overall domestic beer consumption is flat.Ethan Long, one of the owners of the Rockaway Brewing Company in Long Island City, started brewing beer two years ago.
    Local and small beer brewing companies have something to toast. The Brewers Association says microbrew sales grew in the first half of this year; up 18 percent over the same period last year. This comes at a time when overall domestic beer consumption is flat.Ethan Long, one of the owners of the Rockaway Brewing Company in Long Island City, started brewing beer two years ago.
Powered by WorldNow

25 FOX Drive
Dedham, MA 02026

Phone (781) 467-2525

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices