Obama to pick Orszag for OMB, source says

From CNN's Jessica Yellin

CHICAGO, Illinois (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.

Orszag, 39, is an expert on health care, pensions and social security policy. A favorite of Clinton Treasury Secretary Robert Rubin, he and Rubin he co-founded the Hamilton Project - an organization within the Brookings Institution focused on economic research and policy.

While at Brookings, Orszab also served as director of the Retirement Security Project and codirector of the Tax Policy Center, a joint venture with the Urban Institute.

Orszag worked at the Clinton White House as special assistant to the president at the National Economic Council and served on the Council of Economic Advisors.