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WASHINGTON, Feb. 28 (Xinhua) -- In a ceremony hosted by President Barack Obama at the White House on Thursday, Jacob Lew was sworn into office as the 76th U.S. Treasury1 Secretary, the Treasury Department said.
The oath of office was administered by Vice2 President Joe Biden. Lew's family members were also in attendance, Treasury said in a statement.
Lew was confirmed on Wednesday by the U.S. Senate as the new Treasury Secretary, as Democrats3 and Republicans are haggling4 over the looming5 government spending cuts. Obama last month nominated the former White House Chief of Staff to lead the Treasury Department, a big step in shaping his economic team for the second term.
Lew, a budget expert, served as director of the White House Office of Management and Budget (OMB) in President Bill Clinton's cabinet from 1998 to 2001. During his tenure6 at the OMB, he helped the federal government achieve budget surpluses for three consecutive7 years.
Lew's imminent8 challenges as the Treasury chief would be achieving consensus9 with GOP leaders to reduce the mounting government debt and coping with the negative effects of the looming government spending cuts.
Automatic spending cuts of roughly 85 billion U.S. dollars are set to hit various government departments this year starting March 1, as agreed by Democrats and Republicans in January in their negotiations10 to resolve the so-called "fiscal11 cliff."
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1 treasury | |
n.宝库;国库,金库;文库 | |
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2 vice | |
n.坏事;恶习;[pl.]台钳,老虎钳;adj.副的 | |
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3 democrats | |
n.民主主义者,民主人士( democrat的名词复数 ) | |
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4 haggling | |
v.讨价还价( haggle的现在分词 ) | |
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5 looming | |
n.上现蜃景(光通过低层大气发生异常折射形成的一种海市蜃楼)v.隐约出现,阴森地逼近( loom的现在分词 );隐约出现,阴森地逼近 | |
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6 tenure | |
n.终身职位;任期;(土地)保有权,保有期 | |
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7 consecutive | |
adj.连续的,联贯的,始终一贯的 | |
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8 imminent | |
adj.即将发生的,临近的,逼近的 | |
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9 consensus | |
n.(意见等的)一致,一致同意,共识 | |
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10 negotiations | |
协商( negotiation的名词复数 ); 谈判; 完成(难事); 通过 | |
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11 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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