The White House has "somewhat less leverage" in upcoming budget talks because the "fiscal cliff" deal didn't require a debt-ceiling increase, said former Obama Office of Management and Budget director Peter Orszag.
Orszag, an economist who's now vice chairman of Global Banking at Citigroup, told "Squawk Box" on Thursday that the White House won the first round.
"But by not insisting that the debt limit be tied to that [cliff] package, it's entirely possible they are going to win the week, but lose the quarter," he said.