Obama plans to nominate Jacob Lew for Treasury Secretary

President Obama will announce on Thursday that he intends to nominate his current chief of staff and former budget director to be the next Treasury Secretary. Lew would replace Timothy Geithner, who intends to resign on January 20. His selection of Lew indicates Obama plans to continue pursuing his economic goals of increased tax revenue. If he is confirmed, Lew’s most immediate and pressing challenge will be the government’s debt limit and whether or not it should be raised. He published an article in 2011 in the Huffington Post describing his thoughts on the proposed 2012 national budget. In it he spoke openly about the importance of balancing the budget and how that should be done.
“Of course,” he wrote, “cutting discretionary spending alone will not solve our fiscal problems. This Budget also deals with mandatory spending and revenue and takes significant steps to address our long-term fiscal challenges.”

Lew’s resume also includes chief operating officer at New York University and two divisions of Citigroup Inc, deputy secretary of state in 2009, head of the White House Office of Management and Budget and finally White House chief of staff since 2012. While he is said to have an amiable disposition, Lew has also been described as hard-nosed and unwavering on certain issues. “He’s a tough guy to negotiate with,” said former Republican Senator Judd Gregg.