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Peter R. Orszag

Adjunct Senior Fellow

Expertise

Economics, macroeconomics; U.S. budgetary policy, tax policy; health care.

Bio

Peter R. Orszag is Vice Chairman of Corporate and Investment Banking and Chairman of the Financial Strategy and Solutions Group at Citigroup, Inc. He is also a Contributing Columnist at Bloomberg View, a Distinguished Scholar at the NYU School of Law, and an Adjunct Senior Fellow at the Council on Foreign Relations.

Prior to joining Citigroup in January 2011, Dr. Orszag served as a Distinguished Visiting Fellow at the Council on Foreign Relations and a Contributing Columnist at the New York Times. He previously served as the Director of the Office of Management and Budget in the Obama Administration, a Cabinet-level position, from January 2009 until July 2010. From January 2007 to December 2008, Dr. Orszag was the Director of the Congressional Budget Office (CBO). Under his leadership, the agency significantly expanded its focus on areas such as health care and climate change.

Prior to CBO, Dr. Orszag was the Joseph A. Pechman Senior Fellow and Deputy Director of Economic Studies at the Brookings Institution. While at Brookings, he also served as Director of The Hamilton Project, Director of the Retirement Security Project, and Co-Director of the Tax Policy Center. During the Clinton Administration, he was a Special Assistant to the President for Economic Policy and before that a staff economist and then Senior Advisor and Senior Economist at the President's Council of Economic Advisers. Orszag has also founded and subsequently sold an economics consulting firm.

Dr. Orszag graduated summa cum laude in economics from Princeton University and obtained a Ph.D. in economics from the London School of Economics, which he attended as a Marshall Scholar. He has coauthored or coedited a number of books, including Protecting the Homeland (2006), Aging Gracefully: Ideas to Improve Retirement Security in America (2006), Saving Social Security: A Balanced Approach (2004), and American Economic Policy in the 1990s (2002).

Dr. Orszag serves on the Board of Directors of the Peterson Institute for International Economics, the Mt. Sinai Medical Center in New York, the Robert Wood Johnson Foundation, ideas42, and the Partnership for Public Service. He is also a member of the Institute of Medicine of the National Academies of Sciences, the Trilateral Commission, the Hamilton Project Advisory Council, and the Marshall Scholarship Alumni Advisory Board, and holds an honorary doctorate from Rensselaer Polytechnic Institute.

Featured Publications

All Publications

Op-Ed

Three Misconceptions About Inequality

Author: Peter R. Orszag
Bloomberg View

Concern about inequality in the U.S. is getting well-deserved attention. Unfortunately, though, discussions of the problem too often rest on three misconceptions: that capital is rising as a share of the economy, that most of the rise in wage inequality is explained by growing gaps within companies between higher and lower paid workers, and that workers are increasingly moving from one job to another. 

See more in United States; Financial Markets

Op-Ed

Obama Should Push to Give Workers a Stake

Author: Peter R. Orszag
Bloomberg View

Here's a good idea that I'd like to see prominent in President Barack Obama's State of the Union speech tonight: shared capitalism. That is, stock-ownership plans or simple profit-sharing schemes for corporate employees. These plans have been shown to effectively align workers' incentives with those of the company's equity owners, but they have not received much attention lately.

See more in United States; Presidents and Chiefs of State

CFR Events

Media Conference Call

Michael Levi and Peter Orszag on America's Energy Future

This meeting is on the record.

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Corporate Meeting

Corporate Teleconference: Affordable Care Act

This meeting is on the record.

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General Meeting ⁄ New York

World Economic Update

This meeting is on the record.

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General Meeting ⁄ New York

C. Peter McColough Roundtable Series on International Economics: A New Foundation for Growth - Assessing the Economic Recovery and Future

This meeting is on the record.

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Corporate Meeting

C. Peter McColough Roundtable Series on International Economics: A New Foundation for Growth - Assessing the Economic Recovery and Future

This meeting is on the record.

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Press/Panels

Testimony

Economic and Fiscal Conditions

In remarks prepared for a postponed Senate Committee on Finance hearing, Peter Orszag argues that the U.S. must address both the weak labor market and an unsustainable fiscal path over the medium and long term.

Video Interview

Peter Orszag, Economist

Peter Orszag joins Maria Bartiromo on CNBC's Wall Street Journal Report to talk about the Obama administration's economic policies.

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