CNBC Reports Jack Lew to be Named OMB Director

CNBC is reporting Jack Lew will be named the new OMB Director. Here is his Wikipedia page.

Apparently he was the OMB Director in the last few years of the Clinton Administration when there were tremendous fiscal surpluses. This is not a good sign, and may be an indication of a swing in Obama Administration policy towards austerity.

UPDATE: Uh-oh!

"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 said.