Former Obama OMB Chief: President Lost Leverage in Fiscal Fight for Budget Battles Ahead

The president's protestations notwithstanding

Despite Democratic claims to the contrary, President Obama's former top budget adviser thinks his old boss has lost leverage for the budget battles to come in the wake of this week's deal avoiding an immediate fall over the "fiscal cliff."

In comments Wednesday on CNBC that were instantly circulated by the Republican National Committee, former Office of Management and Budget head Peter Orszag disputed Mr. Obama's assertion that he would not bargain with GOP lawmakers over raising the nation's debt limit, which Congress will vote on in late February or early March.