The choice of who will replace Peter Orszag at OMB is a critical one.
We were thrilled when President Obama chose Orszag, Summers, and Geithner, to be in the three top economic positions because of the weight they each give to responsible budgeting. However, we always worried one or all of them might leave before the nation pivoted from stimulus to deficit reduction—when we would need them the most. We really, really need the Orszag influence going forward as we try to figure out how to climb out of this deficit hole.
Peter was instrumental in getting the parts of health care reform that will do the most to control costs in as part of the final reform package. Within the Administration, he has been one of the strongest advocates for responsible fiscal policies. As we move onto the next step in fiscal consolidation—putting together a comprehensive plan—we could really use his policy ideas and political influence.
There will be a lot of attention on OMB in the coming months and years. Finding a replacement to fill Orszag’s shoes will not be easy, but it is critical we get this right.
UPDATE: CRFB encourages readers to provide their own suggestions in the comment field below for who should be the next OMB Director.