January 30th, 2012
05:33 PM ET
It was the first day on the job for new White House Chief of Staff Jack Lew. But it wasn't actually his first day at the White House. In his former position as the Director of the Office of Management and Budget (OMB), Lew was responsible for overseeing the preparation of the federal budget and financial management of the Executive Office of the President.
January 9th, 2012
07:55 PM ET
When Bill Daley departs the White House, President Obama will have had either three or four chiefs of staff in his first term – depending how you count: Rahm Emanuel, interim Chief of Staff Pete Rouse (who served briefly), Bill Daley and now Jack Lew.
It’s a lot of turnover for one term, though it probably doesn’t impact his image – voters might not really care about internal staff changes in the West Wing. The President and multiple administration officials say it was Daley’s decision to go. Multiple Democratic sources say he has been unhappy.
So why didn’t it work for Daley? According to many Democratic sources:
Finally, Jack Lew is well liked, low key, and has years-long good relations with the Hill. Think of him as a chief financial officer-type, one who can manage the White House while others worry about the campaign.
November 15th, 2011
04:38 PM ET
Following up on an executive order signed by the president in 2009, Obama administration officials held a conference call today to announce their progress in reducing “improper payments” made by the federal government. Totaling $116 billion in fiscal year 2011, improper payments are defined as payments made by the federal government either in the wrong amount, to the wrong person, or for the wrong reason.
“At a time when our most critical programs – economic programs, social safety net programs – are experiencing tighter and tighter budgets, it's particularly imperative that we not tolerate such errors,” Office of Management and Budget Director Jack Lew said on the call.
Today Lew announced that in FY 2011 the federal government cut improper payments by $18 billion and recaptured $1.2 billion in erroneous payments. When combined with the numbers from FY 2010, the government has prevented nearly $21 billion in improper payments and recaptured over $1.9 billion, Lew said.
Secretaries Kathleen Sebelius and Arne Duncan as well as Deputy Agriculture Secretary Kathleen Merrigan also participated in the call, outlining efforts underway at their respective agencies to reduce payments made in error.
But OMB officials urged caution in how these numbers are interpreted. The government does deem a payment improper if it has paid too much, but also if it has paid too little or even if it has simply made an error in documenting what the payment was for. Meaning that ultimately not all of the money saved or recaptured goes to paying down the deficit, or even returns to the program to which it was originally allocated. FULL POST
February 14th, 2011
08:36 AM ET
By Jeanne Sahadi, senior writer
WASHINGTON (CNNMoney) - President Obama on Monday will unveil a $3.7 trillion budget request for 2012 that proposes painful cuts in many government programs but fails to address the largest drivers of the country's long-term debt: Medicare, Medicaid and Social Security.
The budget takes a big bite out of domestic spending and would slash deficits by $1.1 trillion over the next decade, according to White House estimates Two-thirds of those deficit cuts would result from spending reductions, while a third would come from an increase in tax revenue, according to senior administration officials.
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November 18th, 2010
10:35 PM ET
"I am pleased that Jack Lew has been confirmed, with wide bipartisan support, to serve as my next Director of the Office of Management and Budget. He brings unparalleled experience and wisdom to this important job at a critical time in our nation’s history. After years of irresponsibility in Washington, we need to make the tough choices to put our country back on a sustainable fiscal path and lay the foundation for long-term job creation and economic growth. We need to cut waste where we find it and create a government that is efficient, effective, and responsive to the American people. I am confident Jack Lew can lead us in these efforts, and look forward to working with him in the days ahead."
November 18th, 2010
10:27 PM ET
WASHINGTON (CNN) – The U.S. Senate confirmed Jacob J. Lew as director of the White House's Office of Management and Budget by a voice vote Thursday night. Lew succeeds Peter Orszag, who headed President Barack Obama's budget team until his departure in July.
Read the complete story at CNN.com