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There is no better person to help lead this effort as director of the OMB than my friend Peter Orszag. Peter has been one of our nation’s leading voices on budgetary issues. It is said that a nation’s budget reflects its priorities. I believe that is true. And I know that Peter will bring to his work at the OMB a set of priorities that I — and the American people — share. Throughout his career, he has made significant contributions in our understanding of all the major economic challenges we are now confronting — from reducing medical costs to saving Social Security to fighting global climate change to helping put the dream of a college degree within reach for more students. As director of the Congressional Budget Office, he re-energized and reinvigorated the agency, while shifting its focus to confront the health care crisis that is not only a cause of so much suffering for so many families, but a rapidly growing portion of our budget and a drag on our entire economy. But it is not simply Peter’s past career that makes him qualified for his new appointment, it is his vision for the future. He believes, as I do, that even as we take steps to restore discipline to our budget, we must also take the steps right now that are necessary to solve our immediate crisis. Peter doesn’t need a map to tell him where the bodies are buried in the federal budget. He knows what works and what doesn’t, what is worthy of our precious tax dollars and what is not. Just because a program, a special interest tax break or corporate subsidy is tucked into this year’s budget, does not mean it should survive the next. The old ways of Washington simply can’t meet the challenges of today and tomorrow. And no one is more able or more qualified to assist Peter in this work as deputy director of the OMB than Robert Nabors. Rob will bring to this post experience in the executive branch, at the OMB, where he helped the Clinton administration achieve balanced budgets, as well as in the legislative branch, where he led the appropriations committee staff as a driving force for a responsible budget. Together with Peter, Rob will help steer our budget through Congress so that I can sign it into law. Now, let me be clear: these appointments and the appointments I announced yesterday are not the sum of my economic team. These appointees will work with those I have yet to announce — including the secretaries of Energy and Labor, Commerce and Health and Human Services and others in my administration — to design a recovery plan for both Wall Street and Main Street, and to put our economy on a path to long-term growth and prosperity. Because at this moment, we must not only restore confidence in our markets. We must also restore the confidence of middle class families that their government is on their side — that it’s working for them — on their behalf — to meet their families’ needs. And that is exactly what I intend to do as president of the United States of America. Thank you.