Senate confirms Treasury secretary

In National News, News

The U.S. Senate affirmed Jack Lew as the new Treasury secretary Wednesday in a 71-26 vote that will give him the power to oversee the nation’s toughest fiscal problems in the next few months.

Lew succeeded Timothy Geithner, who presided over the budget policies that plagued the last days of 2012 over the financial crisis that have long-since passed over.

“At this critical time for our economy and our country, there is no one more qualified for this position than Jack,” President Barack Obama said in a statement following Lew’s confirmation.

The most pressing topic, the sequester, will automatically slash funding in the mid-billions of dollars for many programs nationwide Friday if Congress and the White House cannot come to a resolution.

The automatic spending cuts triggered by inaction will affect every state differently, including almost $88 million in education funding in California ,according to a state projection released by the White House earlier this week.

If you liked this story, sign up for our weekly newsletter with our top stories of the week.

You may also read!

Titans guard Ian Fox secures mid-season release from men’s basketball team

Titans guard Ian Fox secured his release from the men’s basketball team last week. Neither Fox nor Titan Athletics

Read More...

Liz Sanchez dedicates their life to change through activism and education

Editor’s Note: This story has been edited to remove claims that did not meet Daily Titan verification standards. Liz

Read More...

Samuel Goñi sacrificed to make a whole country’s dream his own

In Spain, soccer is like religion, and because of that, it is normal or even ideal to have a

Read More...

Mobile Sliding Menu