time. he s a tough dude and i think he is there because there s a knowledge that we re going to have a lot of these debates for a while and we look forward to working with him. reporter: while lew is often called the smartest man in the room on the budget, he is a newcomer to global financial issues. one of his biggest challenges will be convincing other countries to cooperate as they seek to rein in their budget deficits. if the united states, germany, japan and the united kingdom all cut spending at the same time, they ll all have less money to spend buying goods from each other. and then all of our tax revenues decline because economies are slower then nobody is meeting their budget targets and then somebody else says, oh well, i better tighten up further and then the cycle starts over again. and the point is we do have to pay our bills eventually, but all of us doing it too fast makes it harder for each one of us to pay our bills. and so you need some kind of coordin
time. he s a tough dude and i think he is there because there s a knowledge that we re going to have a lot of these debates for a while and we look forward to working with him. reporter: while lew is often called the smartest man in the room on the budget, he is a newcomer to global financial issues. one of his biggest challenges will be convincing other countries to cooperate as they seek to rein in their budget deficits. if the united states, germany, japan and the united kingdom all cut spending at the same time, they ll all have less money to spend buying goods from each other. and then all of our tax revenues decline because economies are slower then nobody is meeting their budget targets and then somebody else says, oh well, i better tighten up further and then the cycle starts over again. and the point is we do have to pay our bills eventually, but all of us doing it too fast makes it harder for each one of us to pay our bills. and so you need some kind of coordin
captioning sponsored by wpbt this is n.b.r. susie: good evening everyone. i m susie gharib. president obama taps a new warrior for the debt ceiling fight. he chooses jacob lew to be the 76th u.s. secretary of the treasury. tom: i m tom hudson. uncle sam wants to make sure you can afford that home loan before you buy. new rules to protect consumers from bad mortgage lenders are on their way. susie: and, we look at whether new year s resolutions, to lose weight, can pump up your portfolio. tom: that and more tonight on n.b.r. ! susie: president obama named today a low key washington hand as his new secretary of the treasury. jacob lew is being called a man who combines tough bargaining with deep economic understanding and a commitment to protecting the safety net for the poor and the elderly. some republicans have promised to oppose lew s nomination, but most say they are reserving judgment. darren gersh has more on this pivotal player. reporter: the president
treasury. jacob lew is being called a man who combines tough bargaining with deep economic understanding and a commitment to protecting the safety net for the poor and the elderly. some republicans have promised to oppose lew s nomination, but most say they are reserving judgment. darren gersh has more on this pivotal player. reporter: the president introduced his pick for treasury secretary as a man who gets tough jobs done. and one of those jobs will be protecting programs the president supports. as the son of a polish immigrant, as a man of deep and devout faith, jack knows every number on a page, every dollar we budget, every decision we make, has to be an expression of who we wish to be as a nation. reporter: the two men enjoy an easy rapport that was clearly on display today. thank you mr. president for your trust, your confidence and friendship. serving in your administration has allowed me to live out those values my parents instilled in me. reporter: lew ha
Carol Vorderman confirmed for major Leeds festival yorkshireeveningpost.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yorkshireeveningpost.co.uk Daily Mail and Mail on Sunday newspapers.