Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

White House budget director is leaving

By the CNN Wire Staff


(CNN) -- Peter Orszag has told President Barack Obama that he plans to leave his position as White House budget director in July, an Obama administration official told CNN Monday evening.

Orszag, 41, has been a key part of Obama's economic team, serving in his role as director of the Office of Management and Budget during the passage of the economic stimulus bill and this year's health care reform legislation.

As budget director, he crafted policy, but also was a prime negotiator with congressional Republicans.

As one of the main negotiators in the final hours before lawmakers passed the economic stimulus package, Orszag tried to bridge differences and was keeper of the ever-changing numbers, often crunching them in his head.

Orszag headed the Congressional Budget Office for almost two years before Obama tapped him to be the White House budget director shortly after the 2008 presidential election.

The new role thrust into Orszag -- a man accustomed to working behind-the-scenes analyzing economic data -- into the public spotlight.

He also worked at the Clinton White House as special assistant to the president at the National Economic Council and served on the Council of Economic Advisors.

Orszag is known in the halls of Congress for wearing cowboy boots with his business suit and has quoted country music songs during budget hearings.

-- CNN's John King contributed to this report. To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed3.93%4.14%
15 yr fixed3.03%3.14%
5/1 ARM3.32%3.28%
30 yr refi4.02%4.21%
15 yr refi3.11%3.21%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 17,745.98 -5.41 -0.03%
Nasdaq 5,128.79 17.06 0.33%
S&P 500 2,108.63 0.06 0.00%
Treasuries 2.27 -0.01 -0.48%
Data as of 9:20pm ET
Company Price Change % Change
Facebook Inc 95.21 -1.78 -1.84%
Bank of America Corp... 18.13 -0.03 -0.17%
Microsoft Corp 46.88 0.59 1.27%
Whole Foods Market I... 36.08 -4.74 -11.61%
Ford Motor Co 15.10 -0.11 -0.72%
Data as of 4:01pm ET
Sponsors

Sections

Loosening state restrictions have given gun silencer sales a boost. Silencers are now legal in 41 states, compared to 37 four years ago. Also some gun makers are making it easy to attach them. More

Pinterest reveals its diversity numbers and announces how it plans to diversify its workforce. More

Fast-food chains that operate in more than 30 locations nationwide are the sole target of a new rule in New York to hike their minimum wage to $15. But consumers and small business owners, as well as some employees, may be the ones to pay the price. More

You can't blame it on the economy anymore. More Millennials now have jobs, but are still living at home. More