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President Barack Obama, right, announces he has named Jacob J. "Jack" Lew, left, to serve as director of the Office of Management and Budget (OMB) in the Diplomatic Reception Room of the White House in Washington, D.C., on Tuesday, July 13, 2010. (UPI/Ron Sachs/POOL)

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President Barack Obama walks into the Diplomatic Reception Room of the White House in Washington Tuesday, July 13, 2010, to announce he will nominate Jacob Lew, left, as the next budget director. (AP Photo/Susan Walsh)

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President Barack Obama, right, announces he has named Jacob J. "Jack" Lew, left, to serve as director of the Office of Management and Budget (OMB) in the Diplomatic Reception Room of the White House in Washington, D.C., on Tuesday, July 13, 2010. (UPI/Ron Sachs/POOL)

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President Barack Obama, right, shakes hands with Jacob J. "Jack" Lew, left, after announcing he has named Mr. Lew to serve as director of the Office of Management and Budget (OMB) in the Diplomatic Reception Room of the White House in Washington, D.C., on Tuesday, July 13, 2010. (UPI/Ron Sachs/POOL)

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President Barack Obama, right, and Jacob J. "Jack" Lew, right, depart from the Diplomatic Reception Room of the White House after Mr. Lew was named to serve as director of the Office of Management and Budget (OMB) in Washington, D.C., on Tuesday, July 13, 2010. (UPI/Ron Sachs/POOL)

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President Obama signs the Iran Sanctions Bill imposing tough new sanctions against Iran as further punishment for the country's continuing ambitions to become a nuclear power, Thursday, July 1, 2010, in the East Room of the White House in Washington. (AP Photo/J. Scott Applewhite)

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President Barack Obama walks across the South Lawn of the White House after stepping off of Marine One in Washington, Friday, July 9, 2010. (AP Photo/Carolyn Kaster)

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President Barack Obama greets supporters after speaking at a campaign fundraiser for Senate Majority Leader Harry Reid D-Nev., in Las Vegas, Thursday, July 8, 2010.(AP Photo/Pablo Martinez Monsivais)

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President Barack Obama, right, speaks at a campaign fundraiser for Senate Majority Leader Harry Reid D-Nev., left, in Las Vegas, Thursday, July 8, 2010.(AP Photo/Pablo Martinez Monsivais)

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President Barack Obama, left, waves at a campaign fundraiser for Senate Majority Leader Harry Reid D-Nev., right, in Las Vegas, Thursday, July 8, 2010.(AP Photo/Pablo Martinez Monsivais)

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President Barack Obama speaks at a campaign fundraiser for Senate Majority Leader Harry Reid D-Nev., in Las Vegas, Thursday, July 8, 2010.(AP Photo/Pablo Martinez Monsivais)

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President Barack Obama, center, shakes hands with supporters after speaking at a campaign fundraiser for Senate Majority Leader Harry Reid D-Nev., in Las Vegas, Thursday, July 8, 2010.(AP Photo/Pablo Martinez Monsivais)

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President Barack Obama walks down the stairs during his arrival at McCarran International Airport in Las Vegas, Thursday, July 8, 2010.(AP Photo/Pablo Martinez Monsivais)

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President Barack Obama, left, waves at a campaign fundraiser for Senate Majority Leader Harry Reid D-Nev., right, in Las Vegas, Thursday, July 8, 2010.(AP Photo/Pablo Martinez Monsivais)

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Illustration: President Obama by Greg Groesch for The Washington Times

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President Barack Obama and Missouri Senate hopeful Robin Carnahan take part in a campaign fundraiser, Thursday, July 8, 2010, in Kansas City, Mo. (AP Photo/Pablo Martinez Monsivais)

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President Barack Obama listens to Dennis Hartman during his tour of Smith Electric Vehicles in Kansas City, Mo., Thursday, July 8, 2010. (AP Photo/Pablo Martinez Monsivais)

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President Barack Obama walks into a campaign fundraiser for Missouri Senate hopeful Robin Carnahan, Thursday, July 8, 2010, in Kansas City, Mo. (AP Photo/Pablo Martinez Monsivais)

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President Barack Obama takes off his suit jacket during a campaign rally for Missouri Senate hopeful Robin Carnahan, Thursday, July 8, 2010, in Kansas City, Mo. (AP Photo/Pablo Martinez Monsivais)

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President Barack Obama speaks at a campaign fundraiser for Missouri Senate hopeful Robin Carnahan, Thursday, July 8, 2010, in Kansas City, Mo. (AP Photo/Pablo Martinez Monsivais)