Peter Orszag 91, Congress budget office chief, is rumored to be President-elect Barack Obamas choice for director of the Office of Management and Budget.
The New York Times and the Associated Press both reported Democratic sources saying that Orszag is likely to accept Obamas offer despite his initial reluctance to leave the budget office midway through his four-year term.
An economics major at Princeton, Orszag was an economist in Bill Clintons administration and later founded an economic consulting firm.
Projections for the fiscal year, which began Oct. 1, show an estimated $1 trillion budget deficit. Orszag declined to comment for this article.