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Jacob Lew

Jacob Lew

The Senate has confirmed President Obama's choice of Jacob Lew to be Treasury secretary. The Senate voted 71-26 to support the nomination. Lew, 57, had most recently served as Obama's chief of staff. He succeeds Timothy Geithner. Ref. USAToday

Lew Jacob

In a letter to Congress, Secretary of the Treasury Jacob Lew said his department has begun using its "Final extraordinary measures" to pay the nation's bills and says its options will be exhausted if the debt limit is not raised by Oct. 17. As the shutdown of the federal government continues, the looming debt ceiling debate looks to be Congress' next big hurdle. Ref. USAToday