Complete Premium video at: http://fora.tv/series/monitor_breakfast Regarding the possiblitity of a Congressional debate on raising the debt limit devolving into a 1995-style government shutdown, Office of Management and Budget Director Jacob Lew notes that both Republican and Democratic leaders have "made it clear" that such a result would "not [be] a good thing." Lew, who was on the negotiating team that helped reach a bipartisan agreement to balance the budget under Clinton, said "that's very different from where we were in the 1990's." ----- During a conversation with journalists at a Monitor Breakfast, Office of Management and Budget Director Jacbo Lew discusses the U.S. federal budget. Jacob "Jack" Lew was confirmed by the Senate on November 18, 2010, as the Director of the Office of Management and Budget, a position he previously held from 1998 to 2001. Before returning to OMB, Lew was the first Deputy Secretary of State for Management and Resources, in which capacity he served as Chief Operating Officer of the department.
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