If confirmed, Lew would assume the post in time for the administration to tangle anew with Republicans over a confluence of three looming fiscal deadlines â¿¿ raising the $16.4 trillion federal borrowing limit, averting automatic spending cuts to defense and domestic programs, and the expiration of a congressional resolution that has been keeping the government operating. Those three events, if unresolved, would have a far greater negative effect on the economy than the "fiscal cliff" that Obama and Congress avoided a week ago.Lew, 57, has often been described as a "pragmatic liberal" who understands what it takes to make a deal even as he stands by his ideological views.
In Picking Lew, Obama Turns A Page At Treasury
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