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Pros and cons of Jack Lew as potential treasury secretary

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    What lays ahead for expected cabinet pick?

  • Duration 2:21
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We're expecting an announcement soon from the president on his pick for a new Treasury Secretary it's believed to be current White House chief of staff.

Jack -- That's who he'll nominate chief congressional correspondent.

Mike Emanuel looks at the -- pros and cons to -- from the White House.

Two sources close to the process say White House chief of staff Jack -- expected to be nominated for Treasury Secretary by the end of the week.

-- publicly Press Secretary Jay Carney avoid getting ahead of President Obama I don't have a timetable for any other personnel announcements.

But I I have no new information.

Or any -- information on secretary Geithner departure sources say -- has become one of the president's favorites because of a sharp knowledge to the federal budget and no drama style.

But some Capitol Hill Republicans say -- gained a reputation for being arrogant and rigid during the 2011 debt ceiling fight.

The top Republican on the Senate Budget Committee predicts a bumpy confirmation process because -- been too political it is Capitol Hill testimony.

He refused I think two.

Acknowledged basic financial.

Certainty.

And really spawned some of the numbers -- -- that -- benefited that on the president.

He did not show that kind of independence -- and credibility that we would want.

In that very important.

Cabinet position.

-- has served as mr.

Obama's director of the office of management and budget and his chief of staff his confirmation is likely come in the middle of a series of budget battles.

Including when congress will be asked to increase the debt ceiling.

Session says to do that through the senate must be forced to pass a budget first.

That congress has the constitutional power to limit the amount of debt this country -- crews.

And it should not allow this government to increase -- stunningly.

Surging debt.

Until we have a budget plan from the -- -- -- from this democratic senate.

-- the white house Press Secretary would prefer that congress sorts out the squabble congress the senate the house should.

Act to raise the debt -- this is not a deal that the White House a negotiation White House is going to have.

Though that fight will continue.

JetBlue is also -- remembered by journalist Bob Woodward in the price of politics for thinking up the sequester.

Another issue the White House in congress have yet to resolved Brett.

-- -- a lot on north lawn Mike thank you.

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