Lew has been the administration’s wonk-in-chief in its battles with the GOP on spending and the debt — issues that will continue to dominate this year considering the payroll tax cut and unemployment benefits will expire at the end of February, while the expiration of the Bush-era tax cuts and automatic spending cuts are all on track to take effect Jan. 1, 2013.
Obama said Lew will “make sure that we don’t miss a beat” and he noted his extensive budget experience as well as his foreign policy chops having served in the State Department under Secretary of State Hillary Rodham Clinton.
OMB spokesman Kenneth Baer released a statement indicating that Lew would finish Obama’s fiscal 2013 budget before taking over at the White House, but he indicated that a decision on who would replace Lew has not been made.
“Jack will be staying at OMB to finish the 2013 budget. There is a very talented and committed senior team here at OMB. Whatever decision the President makes about who is to lead the agency, there will be a continuity of leadership at the highest levels,” Baer said.
Hillary Rodham Clinton, center, along with former Secretary of State Madeleine Albright, right, and Annette Tilleman-Dick, left, wife for former Rep. Tom Lanots, D-Calif. Clinton was honored with the Tom Lantos Human Rights Prize during a ceremony last week at the Cannon House Office Building. Previous winners include the Dalai Lama and Elie Wiesel.
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.