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.