The Office of Management and Budget (OMB) is part of the Executive Office of the President. Its primary function is to oversee the preparation of the President’s annual budget. According to the OMB website the office “ensures that agency reports, rules, testimony, and proposed legislation are consistent with the President’s Budget and with Administration policies.”
OMB also has oversight over an Administration’s “procurement, financial management, information, and regulatory policies.”
Peter Orszag is currently head of the OMB, but he recently announced his resignation. President Obama has nominated Jacob Lew to take Orszag’s place.
