Obama Nominates Jacob Lew as OMB Director

Today, President Obama has announced his intention to nominate Jacob Lew, the current Deputy Secretary of State for Management and Resources, to replace Peter Orszag as Director of OMB. Lew was previously OMB director during the Clinton administration. In a statement today Obama praised Lew’s “experience and good judgment,” saying that if confirmed, he will prove to be an “extraordinary asset” in efforts to cut the deficit and develop a sustainable fiscal path for the nation. We wish him the best of luck in this endeavor.