Obama Will Sign Spending Bill, Says Budget Chief

WASHINGTON – The White House budget director says the president will sign a big spending bill despite GOP calls for a veto.

Peter Orszag says Obama will work with Congress to reduce targeted spending, known as earmarks. But he says the $410 billion measure that passed the House last week represents last year's business and the new administration needs to move on.

The bill would keep the government operating through Sept. 30, the end of the current budget year. A watchdog group has identified nearly 8,600 instances of earmarks totaling $7.7 billion. Democrats say the number is $3.8 billion.

Either way, Obama campaigned on a goal of reducing earmarks. But they are popular with lawmakers eager to bring federal dollars back home.

Orszag spoke on ABC's "This Week."