White House budget director Peter Orszag will leave the administration by July, according to multiple news reports. His departure after an 18-month tenure makes him the first cabinet-level Obama official to resign, after helping design a $787 billion stimulus bill that failed to live up to expectations and serving as the lead budgetary apologist for the Democrats’ health-care reform bill.

Politico speculates that Orszag’s two most likely successors are Laura Tyson, the former chair of Clinton’s Council of Economic Advisers, and current Treasury official Gene Sperling.

Orszag will leave behind, in this year alone, a $1.3 trillion deficit.