San Francisco (Obama.net)- The economy in the United States of America is no surprisingly unstable at the moment. With over 1.4 trillion dollars in the deficit at the moment, President Barack Obama is pontificating exactly what to do about the crisis. After many measures to boost the economy and stimulate job growth throughout the United States of America, the President is looking back in order to move forward.
In his quest to find a new person to lead the Office of Management and Budget, President Barack Obama is looking back to the administration of former President Bill Clinton in the 1990’s. The economy of the United States of America grew tremendously during the Clinton administration.
It was announced Tuesday that the current President of the United States of America is going to name a member of Clinton’s cabinet to head the Office of Management and Budget. The man that President Obama is looking to take the role is Jacob Lew, who held the same position from 1998 to 2001 under President Bill Clinton.
When Lew was in charge of the economy, there was a surplus in the budget, which contrasts heavily to the massive deficit created by former President George Bush and his administration.
When making his announcement, President Obama touted Lew by saying, “As the budget director who left the next administration a $237 billion surplus when he worked for President Clinton, I have no doubt that Jack has proven himself equal to this extraordinary task.”
Obama is doing all he can to research and experiment with new ways to rebuild the economy before it gets out of control. The deficit is a main issue of the Obama administration and the hope is that Jacob Lew will be able to play a major role is reducing it.
The current head of the Office of Management and Budget, Peter Orszag, who is resigning from his seat at the end of July, praised Lew and expressed his honest beliefs that Lew is in fact the right man for the job.
With bringing in Lew to head the Office of Management and Budget, President Barack Obama is making it clear that improving the American economy is high priority and that he realizes that when a man knows how to run an economy, it is not a bad idea to hand him the keys to the car.
With the coordinated effort between Lew, Obama, and the rest of the Obama administration, the citizens of the United States of America can keep their hopes high that the American economy is on the right track to ultimate recovery and stability.