by Jacob Goldstein

President Obama said today that he'll nominate Jacob Lew to replace Peter Orszag to run the Office of Management and Budget.

A few quick bullets on Lew:

  • He was White House budget director at the end of Bill Clinton's second term, an era when the federal government ran a surplus.
  • More recently, he worked for Citi Alternative Investments — a wing of Citigroup that invests in private equity, hedge funds and real estate.

For more, see coverage from the WSJ, FT, Washington Post and National Journal.