He has settled on Jack Lew for Treasury Secretary. According to many accounts, this is a purposeful slap at Republicans.
CNBC reports: “To call Lew’s relationship with Capitol Hill Republicans strained would be an understatement. According to some on the Hill, there just is no relationship anymore.
‘We do not even bother talking to him,’ a staffer for a Republican senator said.”
Manu Raju at Politico.com describes the tensions between Lew and Republicans:
“Several Republicans said Tuesday they don’t view Lew as a man interested in hearing GOP concerns. One aide called him “tone deaf” in understanding the compromises that Republicans could accept during high-stakes talks.”
White House Dossier’s Keith Koffler noted:
“Yes, the same Jack Lew who as Obama’s Office of Management and Budget director and White House chief of staff has overseen Obama’s annual trillion dollar-plus deficits, lousy economy, and persistently high unemployment. Quite a success story.
“What’s more, Lew has little experience with the financial markets, spending only a brief and un-illustrious time on Wall Street managing a Citigroup unit that bet on the housing market to collapse and lost money anyway in his final year there, 2008.
“He was well compensated, of course.
“Obama and his budget chief Lew have overseen the highest federal outlay of cash as a share of the economy since World War II and didn’t get serious about cutting spending until Republicans started to make threats the White House deems irresponsible.
“This nomination is not about cutting the budget or really even improving the economy, it’s about defending and expanding Obama’s legacy.”
Koffler concludes: “Short on achievements but long on loyalty and commitment to Obamaism. Meet your new Treasury Secretary nominee who – the Senate can pick only so many fights – will almost certainly be confirmed without much argument.”
On top of that, here’s what we’ll be looking at on our dollar bills: