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[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/06/22/orszag.obama.gi.art.jpg caption="Peter Orszag is a key part of the Obama administration's economic team."]

Obama's key budget guru leaving

(CNN) – Peter Orszag has told President Obama that he plans to leave his position as White House budget director in July, an Obama administration official said Monday evening.

Orszag, 41, has been a key part of Obama's economic team, serving in his role as director of the Office of Management and Budget during the passage of the economic stimulus bill and this year's health care reform legislation.

As budget director, he crafted policy, but also was a prime negotiator with congressional Republicans.

As one of the main negotiators in the final hours before lawmakers passed the economic stimulus package, Orszag tried to bridge differences and was keeper of the ever-changing numbers, often crunching them in his head. Read more

Judge to rule on drilling moratorium

A judge in New Orleans may rule Tuesday on whether to lift the federal government's moratorium on deepwater drilling in the Gulf of Mexico.

U.S. District Court Judge Martin Feldman has said he will give his decision between early Tuesday and Wednesday afternoon on whether to issue a preliminary injunction against the six-month ban, which halts all drilling in more than 500 feet of water and prevents new permits from being issued.

Brian Collins, an attorney for the Justice Department, insisted Monday that the suspension is necessary while officials conduct a safety review after the Deepwater Horizon explosion. Read more

Full coverage | LIVE: Undersea view

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