A former White House budget chief said Thursday that Congress won't reach a deal to raise the nation's ability to borrow until the financial markets panic.
Former Obama administration budget director Peter Orszag is joining Citigroup's global banking division, the bank said Thursday.
Two more members of the Obama administration economic team are on their way out, adding to a wave of departures in recent months.
The U.S. Senate confirmed Jacob J. Lew as director of the White House's Office of Management and Budget by a voice vote Thursday night.
CNNMoney: Obama's CEO problemupdated: Fri Sep 24 2010 14:00:00
With the departure of top economic adviser Larry Summers, President Obama has a chance to deflect a big criticism often lobbed against his inner circle by the private sector: Lack of CEO chops.
Two Senate committees hold hearings Thursday on the nomination of Jacob J. Lew as director of the Office of Management and Budget.
President Obama opened the post-Labor Day stretch of the midterm campaign in the perennial swing state of Ohio on Wednesday, accusing the GOP of pushing bankrupt economic policies and putting politics ahead of national welfare.
Peter Orszag, who recently stepped down as President Obama's budget director, called for a two-year extension of the Bush tax cuts in an article he wrote in the New York Times on Tuesday.
President Obama on Tuesday cited a "break through" on Wall Street reform and praised three Republican senators for saying they would vote for the bill.
U.S. stocks were poised for a lackluster open Tuesday, as investors moved to the sidelines ahead of key housing data and a two-day Federal Reserve meeting.
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.
Peter Orszag has told President Obama that he plans to leave his position as White House budget director in July, an Obama administration official said Monday evening.
The Obama administration on Tuesday told large parts of the federal government to rein in spending and make better use of taxpayer dollars.
Office of Management and Budget Director Peter Orszag will announce Tuesday morning that the Obama administration is directing agencies to cut at least 5 percent from their budgets. This comes in addition to the president's pledge to freeze spending at most agencies over the next three years.
Obama administration officials urged lawmakers Tuesday to support the president's budget, saying it will drive job growth.
Sen. Judd Gregg and OMB director Peter Orszag get in a heated exchange over one of President Obama's budget proposals.
When President Obama presented his budget for the upcoming fiscal year, he demanded that lawmakers forgo "the same old grandstanding when the cameras are on and the same irresponsible budget policies when the cameras are off."
In his $3.8 trillion budget for next year, President Obama on Monday laid out how Congress can lighten the country's debt load.
Here's something to keep in mind about American voters: They're not fond of political gimmicks.
Michael Leiter With today's release of the Obama administration's report on what went wrong to allow a Nigerian man to allegedly board a U.S.-bound flight with explosives, top government officials including Leiter, director of the National Counterterrorism Center, will face increased scrutiny.
October was another costly month for Uncle Sam. The Treasury Department reported on Thursday that federal coffers racked up a worse-than-expected deficit of $176.4 billion for the month.
Sens. John Mccain and Tom Coburn discuss what they call a lack of oversight in the stimulus spending program.
The federal government made $98 billion in improper payments in fiscal 2009, and President Barack Obama will issue an executive order in coming days to combat the problem, his budget director announced Tuesday.
The federal government made $98 billion in improper payments in fiscal 2009, and President Obama will issue an executive order in coming days to combat the problem, his budget director announced Tuesday.
A challenge that President Obama made to his Cabinet in April resulted in cost-cutting measures that more than doubled the original $100 million target, his administration said Monday.
The White House has criticized the Congressional Budget Office's findings that the Obama administration's proposal to control Medicare costs would yield a moderate savings of $2 billion over the next decade.
The Obama administration is touting a provocative proposal to give a medical advisory council the power to help decide the scope of coverage that would be eligible for reimbursement under Medicare.
More work is needed on proposed health care reform legislation to ensure that whatever bill eventually gets passed by Congress is budget neutral, Health and Human Services Secretary Kathleen Sebelius said Sunday.
Americans are usually uninterested in legislative procedure. The technical rules that govern the House and Senate are of little concern to average citizens except for those rare moments when procedures become tied up with major policy battles.
The U.S. budget deficit in 2009 is projected to spike to between $1.67 trillion and $1.85 trillion, according to estimates released Friday by the Congressional Budget Office.
Get ready. Washington is again debating how to fix the health care system. And the outcome might affect your wallet.
The White House has rejected South Carolina Gov. Mark Sanford's request to use a portion of the state's allotted federal stimulus funds to pay off state debt instead of spending it on government services or programs.
Facing mounting criticism of a spending package packed with billions of dollars in earmarks, the Obama administration made a vow Sunday: This president will bring a halt to pork-laden bills.
Facing mounting criticism of a spending package packed with billions of dollars in earmarks, the Obama administration made a vow Sunday: this president will bring a halt to pork-laden bills.
President Obama won't submit a formal 2010 budget request to Congress until next month. But the head-knocking on the Hill over fiscal priorities begins in earnest this week.
At 40, Peter Orszag is the youngest member of the Obama Cabinet and one of People magazine's "hottest." These days he's also front and center of the president's key policy initiatives.
Budget director Peter Orszag is the youngest member of the Cabinet. CNN's Jessica Yellin goes behind the scenes.
Budget blueprint
updated: Thu Feb 26 2009 19:52:00
CNN's Dan Lothian outlines President Obama's first budget plan.
President Obama on Thursday unveiled a $3 trillion-plus budget that he says will halve the federal deficit by the end of his first term.
Two White House officials told CNN Wednesday that the proposed budget to be released Thursday will include a $634 billion health care "reserve fund," which is intended to help pay to overhaul the nation's health care system.
CNN's Paul Steinhauser reports on the Fiscal Responsibility Summit and other Washington news.
Some economists doubt President Obama will be able to meet his goal of cutting the nation's deficit in half by the end of his first term.
If you're looking for Peter Orszag, you might check between a rock and a hard place.
As Senate Democrats angle for enough votes to pass an $885 billion economic recovery package, the Obama administration has laid out what it does - and doesn't - want in the final package.
President-elect Barack Obama on Tuesday nominated Peter Orszag to head the Office of Management and Budget (OMB), the president's chief number-crunching department, and said he sees "tough choices" ahead in determining programs to keep or cut.
President-elect Barack Obama on Tuesday will unveil Peter Orszag as his nominee for director of the Office of Management and Budget, two sources close to Obama's transition operation told CNN.
President-elect Barack Obama has picked Peter Orszag, the head of the Congressional Budget Office, to head his Office of Management and Budget, a top Democratic source told CNN Tuesday.
Americans' retirement plans have lost as much as $2 trillion in the past 15 months, Congress' top budget analyst estimated Tuesday
CNNMoney: Where things standupdated: Wed Sep 24 2008 17:45:00
As the Bush administration continued to push Congress to accept its rescue proposal, the president geared up for a prime-time address to the nation Wednesday night - his biggest push yet for the proposed $700 billion bailout of the U.S. financial system.
Average Americans aren't the only ones who think they don't have enough information to assess the Treasury's proposal to buy up to $700 billion of troubled mortgage assets.
The budget deficit will jump by $246 billion to $407 billion this year, the Congressional Budget Office estimates in a report released Tuesday.
As pressure builds on Washington to juice the economy, a one-time consumer rebate has emerged as the likely centerpiece of a $150 billion stimulus program.
The wars in Iraq, Afghanistan and anti terrorist efforts abroad could cost the country $2.4 trillion over the next ten years, according to a report Wednesday.
Fortune: Fuzzy Bush mathupdated: Tue Sep 04 2007 05:22:00
There will be lots of celebrating in Washington next month when the Treasury announces that the federal budget deficit for fiscal 2007, which ends September 30, will have dropped to a mere $158 billion, give or take a few bucks.
What happens when you boost taxes on high-income folks who manage $2 trillion that is integral to capital markets and spurs innovation, creating the Googles and Genentechs of the world?
NEW YORK (CNNMoney.com) - By now everyone knows American workers aren't saving enough for retirement.
NEW YORK (CNN/Money) - More than partisan bickering, genuine intellectual disagreement was in evidence at the Senate Finance Committee hearing on Social Security Tuesday.
The next stage in the battle over Social Security reform begins Tuesday on Capitol Hill, as experts come before the Senate Finance Committee to debate how best to achieve solvency in the system -- with and without individual investment accounts.
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