Architect of trillion dollar deficits to head Treasury Department

President Obama is set to name his chief of staff Jack Lew to head up the Treasury Department. Previously, Lew served as Obama's OMB director, presiding over budgets that featured the largest deficits in US history. What could go wrong? Washington Post: President Obama recently said he would love to hire a top executive into his administration. But for the job of Treasury secretary, he didn't pick a corporate executive, a famous economist or a former politician - he has decided to tap a trusted adviser, White House Chief of Staff Jacob Lew, an expert on the nation's ongoing budget wars. Obama on Thursday plans to nominate Lew to take over from Treasury Secretary Timothy F. Geithner, the president's longest-serving economic adviser, a White House official said. The selection, to be announced at 1:30 p.m., signals that Obama's second term will not initially focus on big new ideas to create jobs or expand government investment in the economy. Rather, it will involve a...(Read Full Post)

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