Here’s a roundup of this morning’s must-read budget and economic stories:

CNN says President Obama’s not-yet-chosen nominee to be Office of Management and Budget chief may face a tough fight on Capitol Hill.

The Associated Press reports President Obama will unveil some new business tax proposals in the coming weeks. Meanwhile, Bloomberg says in his upcoming budget release, the President is likely to recycle deficit reduction proposals from last year’s budget.

The Hill previews the upcoming battle over President Obama’s defense spending plan.

The New York Times looks at implications of debt problems in Europe.

On the opinion pages: Edward Pinto looks at how government-sponsored entities helped fuel the financial crisis.