Deja vu: Obama taps former OMB director for second stint

Jacob Lew was nominated today by the president to be the director of the Office of Management and Budget.

Lew currently is deputy secretary for management and resources at the State Department and the department’s chief operating officer.

This wouldn't be the first time Lew has been budget director. Lew was OMB director from 1998 to 2001 under President Bill Clinton. Senate confirmation is required for Lew to become budget director.

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In his announcement, President Barack Obama said Lew has proved himself for the budget director position. “The experience and good judgment Jack has acquired throughout his impressive career in the public and private sector will be an extraordinary asset to this administration’s efforts to cut down the deficit and put our nation back on a fiscally responsible path,” Obama said in a statement.

For his current State Department position, Lew was confirmed by the Senate on Jan. 28, 2009, and was sworn in by Secretary Hillary Clinton the next day.

Current OMB Director Peter Orszag is leaving the position he has held since March 2009, when he was confirmed. Orszag said Lew, if confirmed, will face tough decisions in light of the economic times.

“After bringing the economy back from the brink of a depression and onto the road to recovery, the nation still faces significant fiscal challenges that, as the president has noted, will require some tough choices in the months to come. With his experience, mastery of the budget process, and passion for public service, Jack Lew is an individual especially qualified to serve the president and the American people during these challenging economic times,” Orszag said in a statement following the White House's announcement.