Obama nominates 'indispensable' adviser for OMB No. 2 spot

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Deese's selection is part of the president's effort to remake his economic team as he gears up for fiscal fights in his second term. If confirmed, Deese would likely join Sylvia Matthews Burwell at OMB, who most recently was the head of The Wal-Mart Foundation, the charitable arm of the retail giant. Her nomination is pending before the Senate, and a Senate committee is set to vet her on April 9.

If confirmed, Deese and Burwell will be key players in the president's fights with Congress over the nation's fiscal trajectory, as Democrats and Republicans continue to duke it out over tax revenues and spending cuts.

Deese has been with Obama since he was first elected in 2008, then as a member of the economic working group for the Obama transition team. He also served as a deputy economic policy director for Obama's 2008 campaign after starting on the campaign trail as an economic adviser for Hillary Clinton.

Deese found himself in the middle of the government's efforts to bail out the domestic auto industry as the executive branch transitioned from President George W. Bush to Obama. The president touted his work during that time in a statement announcing the nomination, saying Deese played a critical role in "retooling a flatlining auto industry."

Sen. Patty Murray (D-Wash.), chairwoman of the Senate Budget Committee, hailed Deese as "another strong choice" as Obama retools his economic team.

"I look forward to hearing from Brian when he appears before the Budget Committee about his plans to help OMB continue working to tackle our economic and fiscal challenges in a balanced way that works for families across the country.”