Obama nominates Jack Lew as Treasury Secretary - FOX 10 News | myfoxphoenix.com

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>>

  • LL Cool J stays true to hip hop roots

    LL Cool J stays true to hip hop roots

    Friday, August 1 2014 10:38 PM EDT2014-08-02 02:38:22 GMT
    EXCLUSIVE -- LL Cool J grew and evolved from a hip hop artist out of Hollis, Queens, to a Hollywood TV and movie star. But he always stayed true to hip hop culture. We'd see him backstage at concerts just hanging out with us, so when I heard he was back in New York for the summer I had to find out why. I tracked him down to a Midtown Manhattan recording studio for this exclusive interview.
    EXCLUSIVE -- LL Cool J grew and evolved from a hip hop artist out of Hollis, Queens, to a Hollywood TV and movie star. But he always stayed true to hip hop culture. We'd see him backstage at concerts just hanging out with us, so when I heard he was back in New York for the summer I had to find out why. I tracked him down to a Midtown Manhattan recording studio for this exclusive interview.
  • 'Ice bucket challenge'

    NY man with ALS gets support from friends and strangers

    NY man with ALS gets support from friends and strangers

    Friday, August 1 2014 7:14 PM EDT2014-08-01 23:14:45 GMT
    When he was 31, Patrick Quinn, of Queens, received the life-changing news: he has ALS. It all started after a softball game in 2011. After two years of countless medical tests, the diagnosis was final. Since then, Quinn has watched his body change. His arms are much thinner. His biceps and triceps have atrophied. His hands have lost all muscle.
    When he was 31, Patrick Quinn, of Queens, received the life-changing news: he has ALS. It all started after a softball game in 2011. After two years of countless medical tests, the diagnosis was final. Since then, Quinn has watched his body change. His arms are much thinner. His biceps and triceps have atrophied. His hands have lost all muscle.
  • Massive emergency drill in New York City

    Massive emergency drill in New York City

    Friday, August 1 2014 5:14 PM EDT2014-08-01 21:14:45 GMT
    The New York City Department of Health conducted a massive emergency preparedness drill at 30 facilities across the city on Friday. They tested the delivery of emergency medications in the event of a biological attack, such as anthrax, or other large-scale public health emergency in the city. The majority of the deliveries will take place to public school buildings.
    The New York City Department of Health conducted a massive emergency preparedness drill at 30 facilities across the city on Friday. They tested the delivery of emergency medications in the event of a biological attack, such as anthrax, or other large-scale public health emergency in the city. The majority of the deliveries will take place to public school buildings.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

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