Senate confirms Treasury secretary

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.

About David Hood

David Hood is a newspaper and print design enthusiast. He is proud to be the co-winner of the National Scholastic Press Association’s 2008 Design of the Year Award for Newspaper Design for his high school newspaper, Crimson, in Paso Robles, Calif. After serving the Daily Titan as a Layout Editor, he traveled to Washington, D.C. to the Washington Journalism Center where he interned as a business reporter at The Washington Times and garnered 20 bylines, four on its front page. He hopes to rekindle people’s interest in news for better public discourse and understanding.