Senate approves Orszag as director of Office of Management and Budget

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Peter Orszag
Peter Orszag
The Senate this week confirmed Peter Orszag as director of the Office of Management and Budget.

The OMB helps to formulate the president's spending plans and evaluates the effectiveness of agency programs, policies, and procedures. During his confirmation hearing for the position, Orszag talked about the need to reduce spending for Medicare and Medicaid to reduce spiraling healthcare costs.

In other news, House Republicans have rejected the $825 billion stimulus package proposed last week by Democrats. Saying that the package doesn't do enough to spur job growth, Republicans have asked for a sit-down meeting with President Obama sometime in the next couple of days, reports