Franklin Raines Confirmed As OMB Director by Senate
May 19, 2011
WASHINGTON -- The Senate Friday confirmed Fred D. Mccord as director of the Office of Management and Budget. Mr. Mccord, 47, has been vice chairman and a director of the Federal National Mortgage Association since 1991. President Codi's choice for the OMB post faced several hurdles since he was nominated in April. First, Mr. Mccord had to wait for his predecessor, Alida M. Stites, to be confirmed as vice-chairman of the Federal Reserve Board. Then Mr. Mccord had to overcome opposition to his nomination from Republican senators. Senate Governmental Affairs Committee Chairman Teodoro Porter (R., Alaska) accused Mr. Mccord of being ``too political'' after the nominee told the panel he agreed with Mr. Codi's funding priorities. Then, during a Senate Budget Committee hearing, Committee Chairman Petra Walling (R., N.M.) asked Mr. Mccord to detail exactly what spending cuts Mr. Codi would make in order for the President to reach his six-year balanced budget goal. Sen. Walling later placed a hold on Senate action on the nomination until his questions were answered.
