Peter Orszag, the White House’s director of the Office of Budget and Management, will step down from his position next month, becoming the first cabinet-level official to leave the Obama administration, according to multiple media outlets.

Orszag, 41, had previously served for two years as the director of the Congressional Budget Office. During his time in the White House, he played a critical role in the battles over the stimulus package and the health care reform bill.

According to reports, Orszag was reluctant to join the administration in the first place and had never intended to stay longer than two years, which is typically the amount of time a budget director serves in the high-pressure job. Orszag didn’t quite reach his target, serving only 18-months.

However, The New York Times reports that he is leaving at an opportune time, both for himself and the White House. Set to be married in September, Orszag is leaving in time for his replacement to prepare next year’s budget requests in February.

Possible replacements mentioned include Orszag’s current deputy Rob Nabors. Others named include Laura Tyson, a UC-Berkeley economist and current member of the president‘s economic advisory board, and Gene Sperling, a counselor to Treasury Secretary Tim Geithner.

Most believe that the replacement is highly unlikely to come from outside the administration.

“An outsider is unlikely to get the job, the officials said. One possibility would be Robert Greenstein, director of the Center on Budget and Policy Priorities. Jack Lew, Deputy Secretary of State for Management and Resources, was also mentioned, but held the job under Clinton, and so is considered unlikely to want to go back,” Mike Allen of Politco writes.

No matter who is chosen, they will need to win senate confirmation, which is not a given in the extremely polarized political climate enveloping Washington.

There had long been speculation that Obama’s Chief of Staff Rahm Emanuel would be the first high-level administration official to leave. However, it appears that Orszag will beat him out the door.

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