Peter Orszag on OMB Short List
By Michael A. Fletcher
Peter R. Orszag, who has headed the Congressional Budget Office for nearly the past two years, has emerged as a top choice to be the next director of the White House Office of Management and Budget, sources said.
The Cabinet-level OMB post is charged with drafting and overseeing the federal budget. That role promises to be especially crucial with the federal budget deficit currently hurtling toward $1 trillion and with President-elect Barack Obama promising to enact a robust economic stimulus plan to prevent the nation from sliding into a long recession.
Another person who has been mentioned as a possibility for the OMB post is Rep. Jim Cooper (D-Tenn.), who each year publishes a dire alternative report on the federal budget.
Orszag, who turns 40 next month, is an expert on entitlement spending. He is a co-founder with former Treasury Secretary Robert E. Rubin -- an Obama adviser -- of the Hamilton Project, which aims to address income inequality in the United States without hindering American competitiveness.
At the Brookings Institution, he was also director of the Retirement Security Project and co-director of the Tax Policy Center, a joint venture with the Urban Institute.
Previously, Orszag, a graduate of Princeton University and the London School of Economics, served as a special assistant to President Clinton for economic policy and as a senior adviser on Clinton's Council of Economic Advisers.
Transition officials declined comment on Orszag.
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November 18, 2008; 6:25 PM ET
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