CBO's Orszag reported to be likely choice to head OMB

CBO director Peter Orszag is the likely choice to head the Office of Management and Budget.

The National Journal is reporting that President-elect Barack Obama will name Congressional Budget Office director Peter Orszag as director of the Office of Management and Budget.

The OMB director will play a crucial role in the Obama administration, which inherits a $10 billion national debt and an annual deficit approaching $1 trillion. He will also be responsible for putting together Obama’s 2010 budget — and trying to push the 2009 budget through Congress before the current continuing resolution ends on March 6.

Orszag has been at CBO for about two years; he was an economic adviser to Bill Clinton during his administration.