Landrieu Blocks OMB Confirmation

Sen. Mary Landrieu (D-La.) on Thursday used her authority to place a hold on President Barack Obama’s nominee to become the next Office of Management and Budget (OMB) Director, Jacob ‘Jack’ Lew. The Louisiana Democrat said she would block Lew’s confirmation until the administration either lifts or significantly alters a six-month moratorium it placed on offshore deepwater drilling.

“Although Mr. Lew clearly possesses the expertise necessary to serve as one of the President’s most important economic advisors, I found that he lacked sufficient concern for the host of economic challenges confronting the Gulf Coast,” Sen. Landrieu wrote in a letter to Senate Majority Leader Harry Reid (D-Nev.).

“The fact that the most acute of these economic challenges, the moratorium, results from a direct (and reversible) federal action only serves to harden my stance on Mr. Lew’s nomination. I cannot support further action on Mr. Lew’s nomination to be a key economic advisor to the President until I am convinced that the President and his Administration understand the detrimental impacts that the actual and de facto moratoria continue to have on the Gulf Coast.”

Before Landrieu announced her hold, the Senate Homeland Security and Governmental Affairs Committee voted 22-1 to confirm Lew and send his nomination to the floor.

Sanders Will Not Vote To Confirm OMB Nominee

Sen. Bernie Sanders (I-Vt.), a liberal lawmaker who caucuses with the Democrats, has released a statement saying he will not support the nomination of Jacob ‘Jack’ Lew to become President Obama’s next OMB Director.

“Jack Lew was kind enough to meet with me last week in my office and to answer my questions at a Senate Budget Committee hearing. Frankly, I found too many echoes of the failed policies of the past in his responses to my questions on trade policy, Social Security, deregulation of banks and other issues.,” Sanders said.

“Reluctantly, I will not vote to confirm Mr. Lew to be director of the Office of Management and Budget,” he added.

OMB Nominee Passes First Hurdle

Jacob “Jack” Lew passed his first hurdle on his way to becoming White House Office of Management and Budget (OMB) Director Monday after he was approved 9-0 by the Senate Homeland Security and Government Affairs Committee Tuesday.

The nominee, who served in the position during the Clinton administration, now requires the consent of the Senate Budget Committee before his nomination is voted on by the Senate as a whole.

Lew will be replacing Peter Orszag, who left the post in late July. He will be joining the White House from the State Department. Prior to that Lew was an executive at Citigroup, where he received a $950,000 bonus after the company was bailed out via TARP funds.

Senator Carper Believes In Lew As OMB Director

Sen. Tom Carper (D-Del.) released the following statement after he voted to confirm Jacob “Jack” Lew for the role of Director of the Office of Management and Budget (OMB). 

 

“As our national deficit continues to grow, it is up to the Administration and Congress to work together to regain control of our budget and put this country’s fiscal house in order,” he said. “We need a strong leader to work with the President and Congress to do just that. I am confident that Jack Lew can - and will - effectively fill that role. There is no silver bullet to solving our nation’s financial woes, but I trust that Mr. Lew can outline initiatives and guide policies that can continue to chip away at the monstrous debt our nation has incurred and lay the groundwork for long-term, money-saving programs and practices. I will work with my colleagues in the full Senate to see to his swift and fair confirmation.”

Collins To OMB Nominee: Good Luck

Jacob ‘Jack’ Lew, the president’s nominee to succeed Peter Orszag as head of the Office of Management and Budget at the White House, will testify before a Senate committee later today, and is expected to be peppered with questions about the nation’s deficit and potential tax increases.

In her prepared remarks, Susan Collins (R-Maine), the top Republican on the Senate Homeland Security Committee, will warn Lew that he must prepare for a “perfect storm” of economic uncertainty.

“Rising entitlement costs soon will collide head-on with the cresting waves of aging Baby Boomers set to leave their jobs. The result will put even more pressure on already strained Social Security and Medicare expenditures,” Collins will say.

Collins, who supports extending tax cuts for all Americans, will also tell Lew he needs to keep a close watch on the nation’s soaring level of debt.

“Mr. Lew will need to develop a realistic plan that prevents the federal budget from becoming a mammoth anchor, dragging down growth in jobs and personal income.”