Lew pick is Obama's in-your-face to Congress

(CNBC) President Barack Obama is sending a pointed message to Republicans by nominating Jack Lew as Treasury Secretary: I’m not backing down from this budget fight.

This is certainly a blow to any hope that Republicans might have had that Obama would flinch from his pledge not to negotiate over the debt ceiling. The president has said he will demand a clean bill raising the debt ceiling, unattached to any conditions or spending cuts.