Obama selects chief performance officer

Consultant with roots in Clinton's Treasury Department will head the new post charged with fiscal order, sources say.

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WASHINGTON (CNN) -- President-elect Barack Obama plans to name Nancy Killefer on Wednesday as his administration's chief performance officer, according to two Democratic officials.

Killefer is senior director of McKinsey & Company Inc., a management consulting firm in Washington. She served as assistant secretary for management and chief financial officer of the Treasury Department during the Clinton administration.

As chief performance officer, a newly created position, Killefer will work to restore fiscal order by scrubbing the federal budget and reforming government.

On Tuesday, Obama warned of the likelihood of "trillion-dollar deficits for years to come," partly due to the economic downturn. He said the government would have to "make tough choices" in the budget "to address both the deficit of dollars and the deficit of trust." To top of page

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