Geithner mulling departure after debt ceiling deal?

As the deadline to raise the U.S. debt limit creeps nearer, Bloomberg is reporting that Treasury Secretary Timothy Geithner is mulling a departure from the administration after a deficit deal between Congress and the White House is forged.

From Bloomberg:

[Geithner] signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.

Geithner hasn’t made a final decision and won’t do so until the debt ceiling issue has been resolved, according to one of the people. All spoke on condition of anonymity to discuss private discussions.

Update: In an appearance with former President Bill Clinton at a Clinton Global Initiative event Thursday evening, Geithner said for the "foreseeable future," he will continue in his position. "I live for this work. It's the only thing I've ever done. I believe in it," he said, according to the AP. Geithner added: "We have a lot of challenges in the country and I'm going to be doing it for the foreseeable future."

Jump to discussion page: 1 2 3 4

Pro life activoist

To the rescue! My Proposals:

1)Let all Bush tax cuts expire (300 including inheritance tax cut)
2)Cut 250 B from the DOD budget (35% of 2012 projection)
3)Means test Social security over 200K, eliminate entirely for incomes over 500K – 100B per year.
4)Maniacal enforcement of tax laws: It is estimated that we lose 500B per year in lost revenue. Estimate that we can get half: 250 B
5)Eliminate deduction for charitable giving (estimate tax savings 75 B)--make this short term, say 5 years and then re institute deductibility after 5 years.
6)Tax e commerce transactions (no reason they should have a 5-10% advantage over local transactions): 25 billion
7)We will get back 300B – 500B simply due to increased economic activity --- this is a slow recovery, but you can look forward to “boom times” circa 2018.

there you have it: almost 1.5 Trillion of the budget gap taken care of.

You are welcome!

#82 - Sat Jul 2, 2011 9:58 AM EDT

recyclecongress

He will be the last of the top financial advisors to leave. Does this not raise a red flag??? Why are they all leaving....they do not want to be on board when the economy crashes and they know it will if Obama has his way. Obama must be stopped.