WASHINGTON, May 22 (UPI) -- President George W. Bush nominated a key aide on domestic policy to take over as head of the Office of Management and Budget, which oversees Executive Branch agencies and preparation of the federal budget.
The appointment of Joshua B. Bolten, deputy White House chief of staff, follows the resignation this month of Mitch Daniels and comes amid predictions of looming budget deficits.
"Josh Bolten is brilliant, he is tireless, he remains calm in any storm," Bush said in an Oval Office announcement.
Bolten, 48, is a former Goldman Sachs executive and served as the director of legislative affairs during part of the presidency of President George H.W. Bush.
As part of the present White House team, under Chief of Staff Andrew Card, he played a key role after the Sept. 11, 2001, attacks in creating and operating part of Bush's initial homeland security team.
"He (Bush) wants his closest and most trusted adviser in that important role," a White House source told United Press International of the job change. "It's a big job, but he's certainly up to it."
The federal deficit in the first seven months of fiscal 2003 was $201.6 billion, according to the Treasury Department, and the Congressional Budget Office is predicting it will exceed $300 billion.
Critics of the president's $550 billion economic stimulus and tax-cut proposal say it would further increase deficit spending. That proposal passed on Capitol Hill at the $350 billion mark.
"This agency has a central responsibility for implementing the full range of this administration's agenda, from growing the economy and creating jobs, to ensuring a strong national defense and a secure homeland" Bush said.
"I depend on the OMB director to keep a watchful eye on the taxpayer's money, to reform the operations of our government, to make them better managed, more accountable and driven by results."
Daniels leaves his post June 6. Bolten would be acting director until the U.S. Senate confirms his nomination.
"If confirmed by the Senate, I'll be a tireless advocate for your agenda and a tight-fisted custodian of the people's money," Bolten said Thursday.
Daniels' departure has been linked to a possible run for the governorship of Indiana.
