Sources: New player for Obama’s economic team November 25, 2008
Posted by wannamakemoney in : Uncategorized , trackback(CNN) — President-elect Barack Obama on Tuesday will unveil Peter Orszag as his nominee for director of the Office of Management and Budget, two sources close to Obama’s transition operation told CNN.
Peter Orszag is a veteran of the Clinton White House.
Orszag, the head of the Congressional Budget Office, is an expert on health care, pensions and Social Security policy. He worked at the Clinton White House as special assistant to the president at the National Economic Council and served on the Council of Economic Advisers.
Tuesday’s announcement — expected at a news conference in Chicago, Illinois — would come a day after Obama unveiled his economic team, including New York Federal Reserve President Tim Geithner as his choice for treasury secretary and former Treasury Secretary Larry Summers as his selection for chief of the National Economic Council. Read about Obama’s economic team
Obama on Monday may have hinted at an OMB announcement, telling reporters he would talk Tuesday about finding cuts in the federal budget to help dig the nation out of the fiscal crisis.
"Full recovery will not happen immediately," Obama said at a news conference in Chicago. "And to make the investments we need, we’ll have to scour our federal budget, line by line, and make meaningful cuts and sacrifices as well, something I will be discussing further tomorrow."
As he unveiled his economic team Monday, Obama called the financial crisis one of "historic proportions" and said that he and the Bush administration are "united" in their efforts to get the economy back on track.
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He said there isn’t "a minute to waste" when it comes to rebuilding the economy.
"My commitment is to do what is required. President Bush has indicated that he has the same approach, the same attitude," Obama said.
Obama’s remarks came just hours after the federal government announced a massive rescue package for Citigroup — which President Bush said he’d spoken about with Obama before it was announced.
Obama said Monday that he has asked his newly formed economic team to develop recommendations for his economic plan, which he outlined Saturday, and to consult with Congress, the current administration and
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