By Erik Wasson - 11/24/10 03:02 PM EST
“The fiscal and economic situation we face today is very different than what we faced the last time I served as OMB Director. A series of policy choices and the worst economic downturn since the Great Depression present us with a very different set of challenges than those posed by the forecast of surpluses at the end of the 1990’s,” he added.
Lew served as OMB director from 1998 to 2001, during the Clinton administration, and as the deputy secretary of state for management and resources in the Obama administration.
Nominated on July 13 to replace outgoing budget director Peter Orszag, Lew was confirmed by the Senate on Nov. 18 after Sen. Mary Landrieu (D-La.) lifted a hold she had placed on his nomination to spur the administration to lift a deepwater drilling ban and speed the granting of offshore permits for oil drilling sites in the Gulf of Mexico.
President Obama has yet to nominate a deputy OMB director. Agency spokeswoman Julie Siegel said Wednesday there is no timetable yet for doing so. Rob Nabors is the acting deputy director, she said.