Obama 's budget director pick identified

Peter Orszag, director of the Congressional Budget Office, will be the next White House budget director, according to media reports. Orszag earlier served as an economic adviser in the Clinton White House.

The Obama transition team has not announced the appointment yet, but National Journal, CNN and other media organizations have reported it based on unnamed sources. Former Congressman Jim Nussle is the current Office of Management and Budget director.

After leaving the Clinton White House, Orszag became a senior fellow at the Brookings Institute. When Democrats won control of Congress in 2006, they selected Orszag to head the CBO.