Peter Orzagh rumored to be Obama's pick for Budget Director.

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From National Journal Online:

President-elect Barack Obama is preparing to tap Congressional Budget Office Director Peter Orszag, once a veteran economic adviser in the Clinton White House, to become his budget director, according to several National Journal sources. The Office of Management and Budget job -- seen as a key post to help Obama deliver on his domestic policy agenda amidst the gloom of a $700 billion federal financial rescue, a recession and the prospects of a $1 trillion deficit next year -- carries Cabinet rank. An announcement is expected soon, but could come with other personnel decisions Obama is making to lead the Treasury Department and National Economic Council in his White House.

The two leading candidates to become Obama's "honest broker" lead at the NEC are Dan Tarullo and Jacob "Jack" Lew, both respected former members of Bill Clinton's deep economic bench. Both have senior government and academic track records. Tarullo, a former assistant to the president for international economic policy, is coordinating part of Obama's economic transition team. Lew, a former OMB director and former executive vice president at New York University, heads Citigroup's alternative investments group.

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