by Dan McSwain

WASHINGTON (RushPRnews) 01/07/09-President-elect Barack Obama said today in a meeting with members of his budget team that he will ban earmarks from the American Recovery and Reinvestment Act that will soon go before Congress.

The President-elect also said he expects his administration to inherit a budget deficit of up to $1 trillion.

He was joined in the meeting by Peter Orszag, Director-designate, Office of Managment and Budget; Christina Romer, Christina Romer, Director-designate, Council of Economic Advisors and Lawrence Summers, Director-designate, National Economic Council, among others.