OMG! Obama Pulls Out the Big Budget Guns
I'm shocked he just whipped it out like that. WHAP.
When Jacob J. Lew packed up his office on his last day as White House budget director in January 2001, he left behind a tidy sum of $236 billion in surplus funds for his successor. Nine years later, he is returning to a White House some $1.3 trillion in the hole.
For the second time, a president has tapped Mr. Lew to manage the nation’s finances but under radically different circumstances. The flush Treasury he oversaw during a robust economy under President Bill Clinton has been drained by recession, tax cuts, two wars, entitlement programs, bailouts and stimulus spending. And now it will be his job to refill it.
“Jack Lew is somebody who has proven himself already equal to this extraordinary task,” President Obama said Tuesday as he announced his nomination of Mr. Lew as director of the White House Office of Management and Budget. “If there was a Hall of Fame for budget directors, then Jack Lew surely would have earned a place for his service in that role under President Clinton when he helped balance the federal budget after years of deficits.”
If you remember, Mr OMG's last budget director quit last month not because he was booed out of office by a sex scandal (please, no one cares about those anymore) but because let's be completely real about the situation, that shit is a mess and no one wants that job.
Apparently Jack Lew does.