Top budget expert Peter Orszag discussed the outlook for US fiscal deficits and possible remedies at the Peterson Institute on May 26, 2011. Dr. Orszag led US policy on this set of issues during 2009–10 as President Obama's initial director of the Office of Management and Budget (OMB).
Peter Orszag is now vice chairman of global banking at Citigroup. Prior to becoming director of the OMB, he was director of the Congressional Budget Office from 2007 through 2008. He was previously a senior fellow at the Brookings Institution and director of its Retirement Security Project, as well as the Hamilton Project, which developed a blueprint for the economic policies that were subsequently adopted in large part by the Obama administration. He was a special assistant to the president for economic policy and a senior economist on the Council of Economic Advisors during the Clinton administration.