White House budget man, Peter Orszag, to step down

Peter Orszag

Peter Orszag has announced he will be stepping down as White House budget director. (Photo: Center for American Progress, Flickr.com)

The director of the White House office of Management and Budget, Peter Orszag, will be leaving his post in July. Peter Orszag has been thinking about leaving the administration for a while and finally decided on leaving in  July after he was pressed by administration officials. As director of the White House budget office, Orszag has wielded significant powers within the government. The replacement for Office of Management and Budget head has not yet been announced.

Peter Orszag as budget guru

As head of the Office of Management and Budget, Peter Orszag has held a cabinet-level position. The OMB is charged with creating the annual White House budget that is sent to Congress. The OMB also provides estimates and opinions on legislation, in support of the Congressional Budget Office, upon the request of members of Congress. While in the position of budget head, Peter Orszag championed two major pieces of legislation — the stimulus bill and health care reform.

Peter Orszag’s history of service

Peter Orszag first started working for the White House in 1997. He started as a Special Assistant to the President for Economic Policy and has moved up the ranks since then. From January 2007 to November 2008, Peter Orszag served as head of the Congressional Budget Office. Peter Orszag has also made a name for himself as an official White House blogger on budget issues.

Who will replace Peter Orszag?

The replacement candidates for Peter Orzag have not yet been officially announced. However, political watchers have been throwing names around already. More likely than not, Peter Orszag’s replacement will be someone already in the White House. Some point to Rob Nabors, who has recently been attending senior staff meetings at the White House and acted as Orszag’s right-hand person from ’96 to ’98. Members of the Economic Recovery Advisory Board and Treasury Secretary counselors have also been named as possible replacements. Whoever the replacement is, President Obama has put significant power in the hands of the director of the OMB, so the budget guru better be someone up to the task.

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