President obama has nominated Jack Lew ’78 to head the federal Office of Management and Budget. Lew, whose time as budget director during the Clinton administration included three consecutive years with a surplus, now confronts a $1.6 trillion deficit. "If there was a hall of fame for budget directors, then Jack Lew would surely have earned his place," President Obama was quoted as saying in The Caucus, the New York Times political blog. Currently deputy secretary of state for management and resources, Lew has served as the chief operating officer of both New York University and Citi Alternative Investments. If confirmed by the Senate, he will replace Peter R. Orszag, a key figure in the administration's health-reform and economic-stimulus efforts. The Washington Post ran a letter from secretary of state Hillary Clinton to State Department employees on Lew's imminent departure, and NPR and Bloomberg have reported on the story. A video of President Obama's announcement is available from NBC News.
Jack Lew ’78, Former Clinton Budget Chief, Named to Same Post by Obama
If confirmed, the current deputy secretary of state will face a $1.6 trillion deficit.
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