Obama nominates NYC native Jack Lew for Treasury Secretary
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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.
Friday, May 24 2013 9:03 AM EDT2013-05-24 13:03:36 GMT
The unofficial start of summer is being met with not so perfect beach weather. Many beach communities had been hoping for good weather this weekend following the destruction and rebuilding due to superstorm Sandy.
The unofficial start of summer is being met with not so perfect beach weather. Many beach communities had been hoping for good weather this weekend following the destruction and rebuilding due to superstorm Sandy.
Thursday, May 23 2013 10:04 PM EDT2013-05-24 02:04:45 GMT
Former Rep. Anthony Weiner launched his campaign for mayor of New York City this week, but his website seems to indicate he is running for office in Pittsburgh. The stylized and colorized image used in
Former Rep. Anthony Weiner launched his campaign for mayor of New York City this week, but his website seems to indicate he is running for office in Pittsburgh. The stylized and colorized image used in
Thursday, May 23 2013 8:50 PM EDT2013-05-24 00:50:04 GMT
Heavy downpours sparked flash flooding across the tristate area on Thursday. The National Weather Service issued numerous weather alerts for many counties in New York, New Jersey, and Connecticut.
Heavy downpours sparked flash flooding across the tristate area on Thursday. The National Weather Service issued numerous weather alerts for many counties in New York, New Jersey, and Connecticut.
Thursday, May 23 2013 3:18 PM EDT2013-05-23 19:18:28 GMT
Authorities say two New York City men and a New Jersey man kidnapped another man off a Queens street in broad daylight and held him for over a month, demanding $3 million from his family.
Authorities say two New York City men and a New Jersey man kidnapped another man off a Queens street in broad daylight and held him for over a month, demanding $3 million from his family.
Thursday, May 23 2013 6:46 AM EDT2013-05-23 10:46:23 GMT
For the first time in 17 years, millions of cicadas are expected to emerge from the soil in the tristate region this summer. The bug-like creatures are harmless to humans.
For the first time in 17 years, millions of cicadas are expected to emerge from the soil in the tristate region this summer. The bug-like creatures are harmless to humans. Cicadas live in the soil and make a familiar buzzing sound.
Wednesday, May 22 2013 12:27 PM EDT2013-05-22 16:27:26 GMT
Black and Hispanic men are more likely to be stopped in the Bronx and Brooklyn than other boroughs, according to an analysis of police street stop data released Wednesday by the New York Civil Liberties Union.
Black and Hispanic men are more likely to be stopped in the Bronx and Brooklyn than other boroughs, according to an analysis of police street stop data released Wednesday by the New York Civil Liberties Union.
Wednesday, May 22 2013 8:23 AM EDT2013-05-22 12:23:21 GMT
Ex-congressman Anthony Weiner whose career imploded after raunchy tweets said in a YouTube video announcement that he's in the New York City mayoral race.
Ex-congressman Anthony Weiner whose career imploded after raunchy tweets said in a YouTube video announcement that he's in the New York City mayoral race. A poll released Wednesday placed Weiner in second place behind City Council Speaker Christine Quinn in a Democratic primary.
Tuesday, May 21 2013 1:15 PM EDT2013-05-21 17:15:24 GMT
An NYPD detective is accused of hacking into department computers and obtaining information about dozens of people including co-workers. Edwin Vargas was arrested Tuesday outside his home in Bronxville.
An NYPD detective is accused of hacking into department computers and obtaining information about dozens of people including co-workers.
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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
