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

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.90%3.90%
15 yr fixed3.02%3.07%
5/1 ARM3.00%3.14%
30 yr refi3.97%3.96%
15 yr refi3.07%3.12%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 18,010.68 -115.44 -0.64%
Nasdaq 5,070.03 -27.95 -0.55%
S&P 500 2,107.39 -13.40 -0.63%
Treasuries 2.09 -0.04 -1.64%
Data as of 2:39pm ET
Company Price Change % Change
Bank of America Corp... 16.50 -0.17 -1.02%
Apple Inc 130.28 -1.50 -1.14%
Pfizer Inc 34.75 0.31 0.90%
Intel Corp 34.46 0.45 1.32%
General Electric Co 27.27 -0.36 -1.30%
Data as of May 29
Sponsors

Sections

Ed Gilligan spent his entire 35-year career with American Express, starting as an intern ad rising to one of the highest executive posts at the bank. More

The U.S. economy lost ground in the first quarter, but it is already showing signs of life. More

Brit Morin is a DIY queen. Her startup Brit + Co. inspires women and girls to be creative -- and just raised $23 million in funding. More