Jacob Lou, U.S. President barack Obama's choice is the ministry of finance to long - do list, waiting, formidable.
The congress is the tax and spending bridge dispute. Narrow fiscal deficit. Management and China's nervous economic relationship. According to the European against recession at the same time, in order to reduce debt. Defend the United States financial reform act. To prevent global currency war.
But these are only significant challenges.
Lew work is very dangerous, meet four years ago leave cover Turner. As finance minister cover Turner, in order to help stabilize tumbledown American banking system, since the 1930 s the most serious financial crisis, and help the economy out of deep recession.
Economic and banking system is much more healthy. However, if the senate a committee hearing, back Lew nomination, he will likely captain perhaps his strengths, budget experts and overcome experience and, in some areas achieve great success.
The federal budget is must concentrate Lew's first few weeks, it may also dominate his senate finance committee confirmation hearings before. The republican party is expected to use of hearing, in order to emphasize their differences, deficit and revenue management.
Utah, panel republican senator orrin · hutchinson said he will by Lou "what kind of plan, Obama government had to face soaring debt and broken due to plan".
Lou, 57 years old, is likely to be elaborate SPAR tax and spending. He twice served as director of the White House budget office - once in the Clinton administration period, once the Obama White House chief of staff to become.
Let's go back to his days as the speaker of the house hint of shaq's assistant in the 1980 s, Lou has accumulated the thirty years of experience, Washington decision-making at the highest level.
He did not win the approval of the senate, is expected to have trouble, although may come from the republican arguments said, in doing so, the government is not enough, including the "right" projects, such as medical insurance, medical aid and social security costs, strain of the federal budget.
On Wednesday after the hearing, the committee members will have two days of time will be sent to Lou answer questions before they vote. The senate vote on partial nomination by the end of the month.
This will make Lou a little time in his first budget challenge - March 1, deep cuts in spending, defense and domestic project, kick, unless congress and administrative authorities agree with some methods to avoid.
The second challenge will be to March 27, when many governments will be closed, if congress does not extend a temporary measures, authorized capital. Must be in May and put forward, and the state's borrowing limit or government default its debt.
Rarely, the negotiations will get a "big deal" at the same time solve budget crack, avoid to cut costs too much, now reduced deficit, in the long run is optimistic.
"You will get a little discount the road ahead, but not many people, said:" Stanley Collender, budget Qorvis communication experts. "I can't see their time or inclination of the big deal."
Collender believe that the current budget measures once finished on March 27, interim government shut down happens. A shutdown may be able to make both parties to enter a compromise, cut back on spending and needs the government to provide funds, the rest of the budget year.
Senator Jeff meeting Alabama republican budget committee, the nomination has said against. The meeting that lu for the upcoming Obama's budget office director, indicating that the government's budget deficit is less than the range.
House republican officials have accused the Obama team to negotiate an agreement, in 2011 to raise the federal debt limit Lou, proof of use of the phantom cut spending budget stunt.
"Obviously, he is very familiar with the budget matters, but he may lack of diplomatic skills and congress to reach a compromise, saying:" song won sun, in Martin Smith business school in California state university professor of economics.
But Collender said, he saw republican criticism of the signal, Lou is a hard bargain.
, Lou will enjoy at least one major negotiation advantage and Obama - his close relationship. Lou will become the first finance minister after the President's chief of staff, since James baker iii as President Reagan's chief of staff, as finance minister before, in 1985 to accept the job.
"When Jim baker speaking, you know that President Reagan, he has the full confidence," said Collender. "Lu will be in a similar position. Lou is close to any barack Obama's White House staff.
Beyond the budget, Lou expected mining work closely to this position cover Turner attack European debt crisis, in the American relations with China and the bush administration's defense of the dodd - frank financial reform act, Banks have played weaken the problems.
Brian Bethune said: "I can't see any creative in dealing with these issues," professor of economics in the Gordon institute in Massachusetts in the United States WenHanM, "this is adverse side, when you choose management insider who is loyal, may listen to the party's line."
A potential weakness Lou: he's relative lack of experience of financial markets and the international economic crisis - field, play to cover Turner's background.
Lou service briefly citigroup alternative investment department in January 2008 as chief operating officer. Later was criticized unit, the use of the investment tools, the bank's balance sheet the hidden mortgage risk and operational risk hedge fund, in 2008 financial crisis crash.
Citigroup setback crisis and $4.5 billion worth of tax payers aid under the help of the rescued. Lew defense lawyers said, he showed responsible alternative investment unit, the worst decision has been made.
Analysts believe that he will continue to put pressure on, Europe actively deal with its budget and debt. But they say, it will consume less Lew time, now Europe's debt crisis will bring threat to the global economy.
On trade, Lou is expected to continue to press China. And the world's second largest economy of the us trade deficit hit a record high last year. Expected, although there is no breakthrough.
Lu also need to calm the attention of investment growth possible currency after the war, the Japanese government to seek a way to reduce the yen's value, in order to promote export and the



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