Obama Names New OMB Chief

President Obama Tuesday nominated Deputy Secretary of State Jacob Lew to serve as the new head of the White House Office of Management and Budget.

“At a time when so many families are tightening their belts, [Lew] is going to make sure the government continues to tighten its own,” Obama said. “He’s going to do this while making government more efficient, more responsive to the people it serves.”

If confirmed by the Senate, Lew, who ran the OMB at the end of the Clinton administration, would replace Peter Orszag, who is stepping down later this month.