President Obama to nominate Jack Lew to run the Treasury Dept.

Updated
Office of Management and Budget Director Jacob Lew, White House Press Secretary Jay Carney and Treasury Secretary Timothy Geithner answer reporters'...
Office of Management and Budget Director Jacob Lew, White House Press Secretary Jay Carney and Treasury Secretary Timothy Geithner answer reporters'...
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The shuffle of the White House cabinet continues today as President Obama is set to nominate his chief of staff, Jack Lew, to replace Timothy Geithner as Treasury Secretary. Jack Lew has a background in budget fights, not Wall Street where he only worked for three years. Clearly, this is where the next fight is to be had with the debt, showing a major shift in the White House and National Economic priorities. Jack Lew has an impressive resume. He was an aide to Speaker Tip O’Neill and he led the budget office under both President Clinton and President Obama helping to balance it and generate surplus.

Yesterday, we learned that Labor Secretary Hilda Solis submitted her resignation to the White House, which is important in light of the recent criticism President Obama has been receiving for lack of diversity among his senior staff.  To answer that criticism the White House released a photo on twitter showing diversity in the Oval Office and announced that Attorney General Eric Holder, Health and Human Service Secretary Kathleen Sebelius, and Veterans Affair Secretary Eric Shinseki will remain in their cabinet positions into President Obama’s second term.

President Obama is set to nominate Jack Lew today at 1:30 p.m. and while there are Republicans on the Hill that oppose Lew’s confirmation, it is believed he will become the next Secretary of Treasury. Politico Jake Sherman joins the conversation today to discuss the Jack Lew nomination and what is happening inside President Obama’s cabinet.

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President Obama to nominate Jack Lew to run the Treasury Dept.

Updated