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Jack Lew confirmed as new Treasury secretary

President Barack Obama’s former chief of staff Jack Lew was confirmed Wednesday as the next US Treasury secretary, taking over a key portfolio at a time of deadlock over the US budget and debt. The US Senate voted 71-26 — with support from 20 Republicans — to confirm Lew, a…

Obama nominees Hagel and Lew face key Senate votes Tuesday

New picks to lead the Pentagon and the US Treasury face key hurdles Tuesday in the Senate, as President Barack Obama fleshes out his second-term cabinet amid trying times for defense and finance. If they are confirmed as expected, as soon as this week, secretary of defense pick Chuck Hagel…

Senate committee to vote on Treasury nominee Jack Lew

The US Senate Finance Committee said it will vote Tuesday on the appointment of Jack Lew — who played an active role in talks that led to massive looming spending cuts — as Treasury secretary. Lew, who was tapped last month to succeed Timothy Geithner in the key cabinet position,…

Geithner to leave Treasury on Friday: source

US Treasury Secretary Timothy Geithner, who steered the administration of President Barack Obama through the financial crisis, will step down from his post Friday, a source told AFP on Tuesday. Geithner had said he would leave the department after the conclusion of Obama’s first four-year term. The president was sworn…

WATCH LIVE: Obama announces new chief of staff

Pres. Obama will announce Chief of Staff Bill Daley is stepping down and budget director Jack Lew will take over. Watch this live video from CNN, broadcast Jan 9, 2012.  …

Tax rate adjustments to pay for Obama jobs plan

The president’s $447 billion plan for tax incentives and infrastructure spending to create new jobs would be paid for by adjusting the tax rates of wealthy Americans, such as hedge funds managers and corporate jet owners, laying the burden of continued economic recovery at the feet of those who’ve seen…

Obama urges tackling major debt problems

WASHINGTON (Reuters) – President Barack Obama on Tuesday called for reforming the gigantic government pension and healthcare programs, as well as simplifying the tax code — steps that would go far beyond the $3.7 trillion budget he proposed this week. At a White House news conference, Obama tried to quell…

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