Board of Directors

Mr. Frenzel, a former U.S. Representative from Minnesota, was the ranking minority member on the House Budget Committee, a member of the House Ways and Means Committee, and the Congressional Representative to the General Agreement on Tariffs and Trade. In 2001, President Bush appointed him to the President's Commission to Strengthen Social Security. In addition to serving as chairman of numerous organizations, he is a Guest Scholar at the Brookings Institution.

Mr. Panetta is a former U.S. Representative from California and during his last two terms was Chairman of the House Budget Committee. During the Clinton Administration he served as the Director of the Office of Management and Budget in 1993 and White House Chief of Staff from 1994-1996. Currently, he is a Professor of politics at Santa Clara University, Distinguished Professor for the California State University, and Director of the Panetta Institute for Public Policy.

Barry Anderson

Barry Anderson is currently Head of the Budgeting and Public Expenditures Division in the Organization for Economic Cooperation and Development (OECD) in Paris.  In this position, Mr. Anderson provides OECD’s Working Party of Senior Budget Officials with identification and analyses of international budget trends and issues.  Prior to joining OECD, Mr. Anderson was a budget advisor at the International Monetary Fund, where he consulted with senior government officials on budget and management issues. Before joining IMF, Mr. Anderson served in various positions dealing with federal budgeting in the United States Federal Government, most recently as the Deputy Director and then the Acting Director of the Congressional Budget Office; before that as the Assistant Director and senior career civil servant at the White House’s Office of Management and Budget; and before that at the General Accounting Office. He has also been a member of the Federal Accounting Standards Advisory Board, and has taught courses on the US budget process for George Washington University and the Office of Personnel Management.

Mr. Ash is co-founder of Litton Industries. He served as its Director and President until 1972. Later, he became Chairman of the President's Advisory Council on Executive Organization and served as Director of the Office of Management and Budget during the Nixon and Ford Administrations.

Mr. Bellmon is a co-founder and former co-chairman of the Committee for a Responsible Federal Budget and continues to serve as a senior advisor. He became Oklahoma's first Republican governor in 1963. He served as a U.S. Senator from Oklahoma from 1968 to 1980. Mr. Bellmon was Director of the Oklahoma Department of Human Services in 1983. In 1986, he was reelected Governor serving until 1991. After retiring from public office, Mr. Bellmon was a professor and lecturer at Oklahoma City University, Central State University, the University of Oklahoma, and Oklahoma State University. He was a member of the Kaiser Commission on the Future of Medicaid.

Mr. Bowsher was the Comptroller General of the General Accounting Office, appointed by President Ronald Reagan in 1981. Prior to that, he was with Arthur Andersen & Co. for 25 years and served as Assistant Secretary of the Navy for Financial Management. Currently, he sits on several corporate and advisory boards, and is a member of the Public Accounting Oversight Board.

Mr. Crippen served as the Director of the Congressional Budget Office from 1999 through 2003. Prior to his stint at CBO, Mr. Crippen was President George H. W. Bush's adviser on all issues relating to domestic policy, including the preparation of the federal budget. From 1981 to 1985, he served as Chief Counsel and Economic Policy Adviser to Senate Majority Leader Howard Baker of Tennessee. In the private sector, he was a Principal with the Washington Counsel, a consulting firm. He has also served as Executive Director of the Merrill Lynch International Advisory Council and as Senior Vice President of the Duberstein Group.

Richard Darman

Richard G. Darman is a Senior Advisor and Managing Director of The Carlyle Group. He advises Carlyle management on strategic business matters as well as Carlyle's venture and energy teams on their business and investing activities. Prior to joining Carlyle in February 1993, Mr. Darman served as Director of the U.S. Office of Management and Budget and as a member of President Bush's Cabinet. Additionally, Mr. Darman held senior policy positions under four Presidents in six Cabinet Departments and the White House. These positions included: Assistant to the President of the United States (1981-85); Deputy Secretary of the U.S. Treasury (1985-87); and Assistant U.S. Secretary of Commerce (1976-77). In the private sector, Mr. Darman was Managing Director of Shearson Lehman Brothers, Inc. (1987-89) and Principal and Director of ICF, Inc. (1974-75, 1977-80). Mr. Darman is an honors graduate of Harvard College and Harvard Business School and a former member of the Harvard faculty. Mr. Darman is a Trustee of the Loomis Sayles Funds, IXIS Funds, and the Howard Hughes Medical Institute; and Chairman of AES Corporation.

Vic Fazio

Mr. Fazio is a former Democratic Congressman who represented the state of California between 1979 and 1999. Congressman Fazio served on the Budget and Appropriation Committees, among others, and was an active member of the Democratic leadership, rising to Chairman of the Democratic Caucus in 1994. Currently, Mr. Fazio is a senior advisor at the law firm Akin Gump Strauss Hauer & Feld.

Mr. Gradison served nine terms in Congress as a Member from Ohio, where he was the Ranking Member of the House Budget Committee and the Ranking Member on the Health Subcommittee of the House Ways and Means Committee. Prior to that, he was the Assistant to the Secretary of Health, Education and Welfare, an Under Secretary of the Treasury, and Mayor of Cincinnati. Since leaving Congress, he has been President of the Health Insurance Association of America, a member of the audit committee for Project HOPE, and the Senior Public Policy Counselor at Patton Boggs. Currently, he is a member of the Board of the Public Company Accounting Oversight Board.

From 1978-1991, Mr. Gray served as a U.S. Congressman from Pennsylvania where he was the Chairman of the House Budget Committee, Chairman of the Democratic Caucus, and Majority Whip. After leaving Congress, Mr. Gray became President and Chief Executive Officer of the United Negro College Fund (UNCF) and served as Special Adviser to President Clinton on developing and implementing a policy to restore democracy in Haiti.

Mr. Jones is a Partner at Manatt, Phelps & Phillips, LLP. Prior to joining the firm, he served as U.S. Ambassador to Mexico from 1993 to 1997. Mr. Jones has also served as President of Warnaco International and Chairman and CEO of the American Stock Exchange. As Congressman of Oklahoma from 1973 to 1987, he was Chairman of the House Budget Committee and a Ranking Member of the House Ways and Means Committee. When he was only 28, President Lyndon Johnson selected him as Chief of Staff, making him the youngest person in history to hold this position. Mr. Jones serves on a number of Boards including Anheuser Busch and the Kaiser Family Foundation.

Mr. Minge, a former U.S. Representative from Minnesota, served on the House Agriculture Committee, House Budget Committee, Joint Economic Committee, and the House Science Committee. He is Co-founder and past Member of the Clean Up the River Environment Board as well as Co-founder and past Chair of the Agricultural Law Section of the Minnesota State Bar Association. Currently, Mr. Minge is a Judge for the Minnesota Court of Appeals. In addition, he is a scholar at the Woodrow Wilson Center in Washington, D.C., a fellow in the W.W. Kellogg Foundation Food and Society Policy Program, and a lecturer at the University of Minnesota, Morris.

Mr. Obernauer is Chairman of Beverage Distributors Company. He was formerly Vice Chairman and Director of Applied Graphics Technologies, Inc., and Chairman and CEO of Devon Group, Inc. before the company merged with Applied Graphics. He spent nearly a decade as an Investment Officer with Donaldson, Lufkin and Jenrette and with First National City Bank (now Citibank). He is a founding member and Director of the American Business Conference and a Trustee of the Trinity School in New York City.

Dr. O'Neill served as Director of the Congressional Budget Office from 1995 to 1999. Prior to that, she held positions as Director of Policy and Research at the U.S. Commission on Civil Rights, Senior Economist on the President's Council of Economic Advisers, Senior Research Associate at the Urban Institute, and Research Associate at the Brookings Institution. She was elected Vice President of the American Economics Association in 1998. Currently, she is the Director of the Center for the Study of Business and Government at Baruch College, CUNY. She is also an Adjunct Scholar of the American Enterprise Institute.

From 1983 to 1987, Dr. Penner was the Director of the Congressional Budget Office. Dr. Penner also worked as a Senior Staff Economist at the Council of Economic Advisers, Deputy Assistant Secretary for Economic Affairs at the Department of Housing and Urban Development, and the Chief Economist of the Office of Management and Budget. In the private sector, he served as a Managing Director of the Barents Group and directed fiscal research programs at the Urban Institute and at the American Enterprise Institute. Currently, he is a Senior Fellow at the Urban Institute.

Mr. Penny is senior fellow and co-director of the Humphrey Institute Policy Forum. He served in Congress from 1982 to 1994 representing Southeastern Minnesota’s First Congressional District. He served on the U.S. House agricultural and veterans affairs committees and the Select Committee on Hunger, and he chaired the foreign agriculture and hunger subcommittee. While in Congress, Tim founded and co-chaired the Democratic Budget Group and drafted deficit-cutting initiatives. He served as a member of Governor Jesse Ventura’s transition team and continues to serve the governor in an advisory capacity. In 2001, he was appointed to President Bush's bipartisan commission on social security. Co-author of two books, Common Cents (1995) and The 15 Biggest Lies in Politics (1998), Tim is also a regular public speaker, radio commentator and editorial writer. He has a bachelor's degree in political science from Winona State University.

Mr. Peterson is Chairman of The Blackstone Group, the Federal Reserve Bank of New York, the Council on Foreign Relations, and the Founding Chairman of the Institute for International Economics. He is currently a Director of Transtar, Inc. and Sony Corporation. He is a Trustee of the Committee for Economic Development, the Japan Society, and the Museum of Modern Art, Director of the National Bureau of Economic Research, the Public Agenda Foundation, and The Nixon Center. He is also the Founding President of The Concord Coalition. Prior to this, he served as Chairman and CEO of Lehman Brothers and Secretary of Commerce under President Nixon.

Dr. Reischauer was the Director of the Congressional Budget Office from 1989 to 1995. Before that he served as the Urban Institute's Senior Vice President from 1981 to 1986. He was the Congressional Budget Office's Assistant Director for Human Resources and its Deputy Director between 1977 and 1981. After leaving government, he was a Senior Fellow at the Brookings Institution. Currently, he is the President of the Urban Institute and serves on the Boards of several educational and nonprofit organizations.

Dr. Rivlin was the founding Director of the Congressional Budget Office. Prior to that, she was the Chair of the District of Columbia Financial Management Assistance Authority, a Vice Chair of the Board of Governors, Federal Reserve System, and Director of the Office of Management and Budget. Currently, she is the Director of the Greater Washington Research Program and Senior Fellow of Economic Studies at The Brookings Institution. She is also a Visiting Professor at the Public Policy Institute of Georgetown University.

Mr. Slattery is a Partner in the law firm of Wiley, Rein & Fielding in the Government Affairs, Energy, and International Trade Practices. He is a former U.S. Congressman of Kansas. While in Congress, he served on the House Energy and Commerce Committee, Telecommunications Subcommittee, Veterans' Affairs Committee, Banking Committee, and Budget Committee. Previously, he served in the Kansas State House of Representatives (1973-1979) and was the former President of Brosius, Slattery & Meyer, Inc. Realtors, in Topeka, Kansas.

Mr. Staats was appointed as the Comptroller General of the United States by President Johnson. Prior to serving as Comptroller General, he was appointed Deputy Director of the Budget under Presidents Truman, Eisenhower, Kennedy, and Johnson. From 1984 to 1990, he was a member of the Governmental Accounting Standards Board. He was the first Chairman of the Federal Accounting Standards Advisory Board from 1990 to 1997. Currently, he is a Trustee of the Committee for Economic Development and member and councilor of The Conference Board.

Rep. Stenholm served the 17th District of Texas as a Democratic member of the House of Representatives for 26 years. While in Congress, he served on the Agriculture Committee for the entirety of his tenure and won the post of Ranking Democrat on the Committee in the 105th Congress. He was founder and coordinator of the Conservative Democratic Forum in the 1980s. Rep. Stenholm joined with Congressman Jim Kolbe to found the Public Pension Reform Caucus in 1997 to bring attention to the challenges facing Social Security. He and Jim Kolbe introduced the only bipartisan Social Security reform bill in Congress. Stenholm also consistently advanced fiscal responsibility in the federal budget. Stenholm's persistence over the years finally resulted in House passage of his Balanced Budget Constitutional Amendment in the 104th Congress, which subsequently met defeat by just one vote in the Senate. The actual balanced budget plans which Stenholm crafted in both the 104th and 105th Congresses with a group of moderate and conservative Democrats known as the "Blue Dog Coalition" have received wide national acclaim as the most honest, pragmatic, and fair proposals on the table. Stenholm graduated from Tarleton State Junior College and Texas Tech University, and has received honorary Doctor of Law degrees from Abilene Christian, Hardin-Simmons, and McMurry Universities.

Mr. Stockman is the Founding Partner of Heartland Industrial Partners. He was formerly a Senior Managing Director of The Blackstone Group. Prior to joining Blackstone, Mr. Stockman was a Managing Director at Salomon Brothers, Inc. He served as the Director of the Office of Management and Budget in the Reagan Administration and was the youngest Cabinet member of the twentieth century. From 1976 to 1981, Mr. Stockman represented Michigan in the House of Representatives.

Mr. Strauss is a Founding Partner at Akin Gump Strauss Hauer & Feld LLP, as well as Chairman of AG Global Solutions. Prior to founding the firm, he served as a special agent of the FBI. Mr. Strauss served as Chairman of the Democratic National Committee from 1973 to 1976 and Chairman of President Carter's election campaigns in 1976 and 1980. He served as Special Trade Representative under President Carter, as well as the President's personal representative to the Middle East Peace Negotiations. He later served as U.S. Ambassador to the Soviet Union. Currently, he is with Akin Gump and serves as Chairman of the U.S.-Russia Business Council, is a member of the Council on Foreign Affairs, and is a Trustee of the Center for Strategic and International Studies.

Lawrence Summers

Dr. Summers is the Charles W. Elliot University Professor at Harvard University.  From 2001 – 2006 he served as president of Harvard University.  He served as Under Secretary, Deputy Secretary and Secretary of the Treasury under the Clinton Administration.  During Summers’ tenure at the Treasury, the United States experienced the longest period of sustained economic growth in the nation’s history.  From 1991 – 1993 he was the Chief Economist at the World Bank.  Summers is the recipient of the John Bates Clark Medal for his work on macroeconomics, among numerous other awards and honors.

Mr. Volcker served under five Presidents- from John F. Kennedy to Ronald Reagan. He served as Under Secretary of the Treasury for Monetary Affairs from 1969 to 1974 and as President of the New York Federal Reserve Bank for the subsequent five years. He served as Chairman of the Federal Reserve System under Presidents Carter and Reagan. He later became Chairman and CEO of Wolfensohn & Co., Inc., and a Professor of International Economics at Princeton University. Since his retirement from the Federal Reserve, Mr. Volcker has served in a variety of public-service roles, including as a volunteer Chairman of the Commission on Public Service and Chair of the International Independent Committee of Eminent Persons, which investigates the Swiss bank accounts of holocaust victims. In the wake of the Enron scandal, he was involved in revamping Arthur Andersen.

Ms. Wait is the former President of the Committee for a Responsible Federal Budget and of Carol Cox and Associates, Inc. She has served as a Consultant to the National Economic Commission. She has been a Director of CIGNA Corporation since 1995. Prior to running the Committee, she worked for Senator Bellmon as Legislative Director for the Senate Budget Committee. She now runs her family's real estate business in California.

Mr. Wright was Director of the Office of Management and Budget under President Ronald Reagan from 1982 to 1989. He was also Deputy Secretary of the Department of Commerce from 1981 to 1982, and later was on the President's Export Council as Chairman of the Export Control Subcommittee. He served as Vice-Chairman and Director of Terremark Worldwide Inc., Vice Chairman/Director of Jefferson Consulting Group, Co-Chairman/Director of Baker & Taylor Holdings and as a member of the AT&T Government Markets Advisory Board. Currently, he is the President and Chief Executive Officer of PanAmSat a provider of global video and data broadcasting via satellite.