Although, the Petition to nominate Paul Krugman for Treasury Secretary continues to circulate and continues to grow in numbers of signatures, President Obama, apparently, had his sights on someone else. Maybe, he just didn’t know about the Krugman Petition . . . . uh hum!
At any rate, President Obama has chosen Jack Lew, for varying reasons:
President Barack Obama is expected, as early as Thursday, to announce that he has picked White House chief of staff Jack Lew to succeed departing Treasury Secretary Timothy Geithner.
In doing so, according to a source close to the process, Obama is drafting a trusted confidant who played a key role in crafting popular Clinton-era economic policies.
If confirmed by the Senate, Lew, 57, would take the reins from Geithner just in time for a series of confrontations with congressional Republicans on everything from raising the debt ceiling to averting automatic domestic and defense spending cuts to deciding how much to fund government agencies after a stopgap measure expires in late March.
So why pick Lew? The source, who strongly supports the president and Lew-and who declined to confirm published news reports that Obama had settled on the soft-spoken economic policy wonk-laid out a three-part “Why Obama would pick Lew” argument to Yahoo News.
Be sure to read, including “another reason” listed toward the end of the article!