Bush nominates Daniels' replacement to head OMB

Bush nominates Daniels' replacement to head OMB

President Bush today nominated Joshua Bolten to replace Mitchell E. Daniels Jr. as the director of the Office of Management and Budget.

Bolten serves as the White House deputy chief of staff and is one of the Bush's closest advisers on economic and domestic policy.

'I have counted on Josh for his knowledge, his clear thinking and his sound judgement,' Bush said today at a press conference. 'Josh has a broad perspective on commerce and international economy. Josh Bolten understands the workings of the federal government as well as anybody in this city. And most important, from his tenure as my deputy chief of staff for policy, Josh knows the philosophy and priorities of my administration.'

Daniels announced his resignation earlier this month, and his last day will be June 4. There is speculation that he has plans to run for governor of Indiana.

'Mitch has watched over the budget with a sharp eye and the common sense of a strong executive,' Bush said. 'He's insisted on good management of the people's money. He's done his job with great energy and consistent good humor.'

Before joining the administration, Bolten was the policy director during Bush's presidential campaign. He also was the executive director for legal and government affairs for Goldman Sachs International of London, served in the previous Bush administration and worked for the Senate Finance Committee.

'If confirmed by the Senate, I will be a tireless advocate for your agenda and a tight-fisted custodian of the people's money,' Bolten said at a press conference. 'I've had the privilege of working closely not only with Mitch, but with every other member of the cabinet.'

Bolten received a law degree from Stanford University law school and an undergraduate degree from Princeton University.

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