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Obama nominates Lew to succeed Geithner at Treasury

Reuters – President Barack Obama on Thursday nominated his chief of staff, Jack Lew, as the next Treasury secretary, praising him as a expert on the pressing national issues of U.S. government spending cuts and deficit reduction.

If confirmed by the Senate as expected, Lew would succeed Timothy Geithner and take the lead on difficult negotiations with Congress on how to cut the nation’s massive debt and rein in spending – a central challenge for Obama’s second term.

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