Developing: Pakistani Plane Escorted by UK Fighter Jets — 2 Men Arrested

Listen to the Buck Sexton Show Live on TheBlaze Radio

Business

Report: Geithner to Exit Treasury Before Next Debt Ceiling Fight

Jan. 3, 2013 12:52pm

U.S. Treasury Secretary Timothy Geithner will likely resign from his position before March — right before the next debt ceiling fight, according to several news reports.

From Bloomberg:

Treasury Secretary Timothy F. Geithner plans to leave the administration at the end of January, even if President Barack Obama and congressional Republicans haven’t reached an agreement to raise the debt ceiling, according to two people familiar with the matter.

After giving in to Obama’s previous entreaties to stay as long as needed, Geithner has indicated to White House officials and Wall Street executives that he is unlikely to change his departure plans this time, increasing pressure on the president to name his successor at Treasury, said the people, who requested anonymity to discuss the private discussions.

Geithner, 51, is the only remaining member of Obama’s original economic team and was a key figure in the taxpayer- funded bailouts during the 2008 financial crisis. He’s also had a principal role in negotiations with Congress on the budget deal and in past deliberations over the debt ceiling.

White House Chief of Staff Jack Lew appears to be the chief candidate for Secretary Geithner’s spot, numerous sources familiar with the situation confirmed.

However, because “Lew’s experience in financial markets is thin, Obama may seek to name a Wall Street executive as the deputy treasury secretary,” the Bloomberg report notes.

“While Lew, 57, worked as a managing director for Citigroup from July of 2006 until the end of 2008, he’s spent most of his career in government. He served as director of Office of Management and Budget for both Obama and President Bill Clinton and was an aide to the late Tip O’Neill, former speaker of the U.S. House,” the report adds.

UPDATE: The Treasury is playing coy about Geithner’s exit. From CNBC’s Steve Liesman:

Follow Becket Adams (@BecketAdams) on Twitter

(H/T: Zero Hedge).

Featured image courtesy Getty Images. This post has been updated.

Benghazi, IRS, AP...What's next? Only TheBlaze TV offers the truth from Glenn Beck, Andrew Wilkow, and Real News from TheBlaze. Get instant access and a free trial here.

Comments (49)

1 2
  • Red Bubba
    Posted on January 3, 2013 at 5:42pm

    What “fight” are they referring to? Can’t they read their own headline confirming tht the house remains without a speaker?

    Report this comment

    Red Bubba  
  • Frodo RinosBane
    Posted on January 3, 2013 at 5:04pm

    Cool, maybe they’ll hire me. I have no experience, but I know how to figure and pay my own taxes. As a plus, guaranteed I can make better decisions than Timmy could by using a dart board with Yes/No on it.

    Report this comment

    Frodo RinosBane  
  • jessieH
    Posted on January 3, 2013 at 4:06pm

    I hope they have sense enough to search him before he leaves. Hey, it’s not the first time he stole from us.

    Report this comment

    jessieH  
  • rochrealtor
    Posted on January 3, 2013 at 3:31pm

    Little pus..y boy will still get all of his exemptions I’m sure. They may be hard to comprehend for his TAXES!!

    Report this comment

    rochrealtor  
    • The_Jerk
      Posted on January 3, 2013 at 3:42pm

      Do the damage, then run like little rats off of a sinking ship in order to avoid the blame. It’s the cultural changing way. It’s been repeated time and time again.

      Report this comment

      The_Jerk  
  • NigelTufnel
    Posted on January 3, 2013 at 3:00pm

    I always figured Tim to be the one to put a gun in his mouth. My favorite Timmy/Obama moment was when the banks took the bail-out money, invested quickly overseas, turned a tidy profit then paid their loans back without paying the hefty 8% interest Timmy and Odumbo had already added into their 4 year budget plans. They got hussled by the best.

    Report this comment

    NigelTufnel  
  • MiCurmudgeon
    Posted on January 3, 2013 at 2:47pm

    Who will miss him?? May I be the first to say ” NOT ME !!!”

    Report this comment

    MiCurmudgeon  
  • blanco5
    Posted on January 3, 2013 at 2:24pm

    Will there ever be justice for all of these lemmings?

    Report this comment

    blanco5  
    • turkey13
      Posted on January 3, 2013 at 2:41pm

      Did Turbo Timmy ever pay the taxes he owed? After he becomes a private citizen will Turbo Tax sue him for ruining their name or did Obama cut a deal back in 2008 – like maybe a tax waiver not to squak or sue.

      Report this comment

      turkey13  
  • SamIamTwo
    Posted on January 3, 2013 at 2:14pm

    He’s robbed Peter to pay Paul at least 3 or 4 times in less than a year. You need to stop it and stop spending. They have to pay it back with interest and they wont. Just like Greece.

    Good by turbo tax timmy, hope not to hear nor see you for the rest of my life.

    Report this comment

    SamIamTwo  
  • thegreatcarnac
    Posted on January 3, 2013 at 2:00pm

    Geitner is not only leaving his post,…he is probably leaving the country right after his plastic surgery. Obama is going to be put in jail eventually. Others will follow.

    Report this comment

    thegreatcarnac  
  • Dismayed Veteran
    Posted on January 3, 2013 at 1:52pm

    I hear he is taking a one year course from Turbo Tax.

    Report this comment

    Dismayed Veteran  
  • Gildersleeve
    Posted on January 3, 2013 at 1:40pm

    Free Bernie. Jail Timmy.

    Report this comment

    Gildersleeve  
  • kickagrandma
    Posted on January 3, 2013 at 1:35pm

    Gee, that’s vannette, rahm, the first press secretary gibbs, hillary, anita dunn early on with vanette.
    One has to ask, “WHERE ARE THE TRAITOROUS b and b’s?”

    Report this comment

    kickagrandma  
  • jackact
    Posted on January 3, 2013 at 1:33pm

    Tiny Tim, “alledged genius”, don’t let the door hit your wimpy ivy league ass on the way out.
    Say hello to your fellow criminals, Lisa Jackson, Van Jones, Susan Rice and Larry Summers.

    Report this comment

    jackact  
  • ArmedAndReallyPissed
    Posted on January 3, 2013 at 1:30pm

    I’m cutting back and you may want to also….
    I’m going to bite the bullet, too!!!!

    President Obama ordered the cabinet to cut $100,000,000.00 ($100
    million) from the $3,500,000,000,000.00 ($3.5 trillion) federal budget.

    I’m so impressed by this sacrifice that I have decided to do the same
    thing with my personal budget. I spend about $2,000 a month on
    groceries, household expenses, medicine, utilities, etc., but it’s time
    to get out the budget cutting axe, go through my expenses, and cut back.

    I’m going to cut my spending at exactly the same ratio (1/35,000) of my
    total budget. After doing the math, it looks like instead of spending
    $2,000 a month, I’m going to have to cut that number by six cents. Yes,
    I’m going to have to get by with $1999.94, but that’s what sacrifice is
    all about.

    I’ll just have to do without some things, that are, frankly, luxuries –
    six cents worth.

    Did this President actually think no one would do the math? How idiotic a $100
    million cut is in a $3.5 trillion budget – It’s ludicrous!!!!!!!

    “There are two ways to conquer and enslave a nation…
    One is by sword…
    The other is by debt.”
    John Adams 1826

    Report this comment

    ArmedAndReallyPissed  
    • thibx
      Posted on January 3, 2013 at 1:41pm

      he must think we are all like his voters who can not count to 10.

      Report this comment

      thibx  
    • barber2
      Posted on January 3, 2013 at 1:45pm

      Armed: “Did the president actually think that no one would do the math ?” Remember, the president is thinking about his base ! Thinking ?? No. Thinking is not part of that media-brainwashed base package ! That is why they voted for him .

      Report this comment

      barber2  
    • Walkabout
      Posted on January 3, 2013 at 1:48pm

      Geithner is not on the outs.

      The agenda of the White House has not changed. They are just doing a “shift change” because if they kept the same faces, they would draw too much flak. The change in personnel gives them some time to say we are going thing better & get a bump in the polls or at least not dip.

      Equivalent to changing the deck chairs on the Titanic. It is still Team Democrat.

      If the Democrats hold the presidency in the next 2 terms Geithner will be back. He is just going to grab a little R & R and a bigger paycheck. He’ll be at non-profit or Goldman Sachs on some “quite front”

      Report this comment

      Walkabout  
    • jpcomposite
      Posted on January 3, 2013 at 2:22pm

      You can use common math to show the libs the errors of their ways. Although they can add and subtract very well. They add debt, burden, taxes, and idiotic policies and yet they subtract liberty, truth, and the need for adhering to the constitution. Mr. G. is a true reflexion of what this Comm in Chump is all about — Lack of common sense, ego, stupidity, arogance, and distain for the American philosophy. My only regret is his leaving is that I’m afraid of who will take his place. I mean really, looks who’s stepping into the State Dept. America, what a country, where even the most ill-equiped among us can ascend to power.

      Report this comment

      jpcomposite  
  • mrunner
    Posted on January 3, 2013 at 1:29pm

    “key figure in the taxpayer- funded bailouts during the 2008 financial crisis. He’s also had a principal role in negotiations with Congress on the budget deal and in past deliberations over the debt ceiling.” Damn! If I had this horrendous record I would have been fired years ago! I guess it pays to be a liberal. Their standards are so low even a puke like little timmy can get hired even though he is a tax-cheat and keep his job while crippling a nation with his policies.

    Report this comment

    mrunner  
  • mrunner
    Posted on January 3, 2013 at 1:24pm

    Can’t we all vote on the next Treasury Secretary? Pretty Please??? I vote Ron Paul! Not a huge fan, but would love to see him in charge of the Fed or Treasury!

    Report this comment

    mrunner  
    • FISH_BONE
      Posted on January 3, 2013 at 1:35pm

      I’m sure the Kenyan sock monkey will search high and low for a bright and intelligent person of strong morals and impeccable character to replace Mr. Geithner. (end sarcasm)

      Report this comment

      FISH_BONE  
    • barber2
      Posted on January 3, 2013 at 1:42pm

      FISH: Look forward to TIMEBOMB doing the Obama channeling ! Oh, what must go on in that radical, angry brain ( and I am referring to Obama !)

      Report this comment

      barber2  
  • Swimming-with-the-Sharks
    Posted on January 3, 2013 at 1:13pm

    He can then resume cheating on his taxes while decrying, with his liberal buddies, those who just don’t pay enough.

    Report this comment

    Swimming-with-the-Sharks  
  • Maxim Crux
    Posted on January 3, 2013 at 1:09pm

    They are all retreating and going into hiding before they pull the trigger event in the Spring. He is probably going to Hawaii with and moving in with the rest of the traitors moving there.

    Report this comment

    Maxim Crux  
  • ArmedAndReallyPissed
    Posted on January 3, 2013 at 1:07pm

    I would jump from a sinking Ship too. Thanks for all your hard work and dedication Dumbass. Heil Obama, Mein Fuhrer.

    Report this comment

    ArmedAndReallyPissed  
    • Snowleopard {gallery of cat folks}
      Posted on January 3, 2013 at 1:10pm

      The rats are leaving the ship one by one. Maybe they have seen how Obama is willing to toss them under the buss completely and thus flee while they still can.

      Report this comment

      Snowleopard {gallery of cat folks}  
    • Popp40
      Posted on January 3, 2013 at 1:22pm

      @Snowleapord….I think they are just going into hiding. The Progressives have put together this machine for the past 100 years and it was officially turned on Nov. 6. It is just now starting to warm up and will be in full running mode in the next couple of months. So they are starting to hide because they know there will be h ell to pay….

      Report this comment

      Popp40  
  • Outfitr
    Posted on January 3, 2013 at 1:06pm

    Good riddance!! Although I’m sure his successor will probably be worse.

    Report this comment

    Outfitr  
  • biohazard23
    Posted on January 3, 2013 at 1:05pm

    Wait, Geithner has been working?? Who knew???

    Report this comment

     
  • barber2
    Posted on January 3, 2013 at 1:05pm

    Rats fleeing the sinking ship of state ?

    Report this comment

    barber2  
  • SocialistSlayer
    Posted on January 3, 2013 at 1:01pm

    I got news for you – Tax Cheat Timmy was never there ! And the rumors are that Communist obama is going to replace Bernanke with Little Timmy Tax Cheat ! We are doomed !

    Report this comment

    SocialistSlayer  
  • stopprintn
    Posted on January 3, 2013 at 12:59pm

    Maybe Maxine Waters can fill the void.

    Report this comment

    stopprintn  
  • Arshloch
    Posted on January 3, 2013 at 12:59pm

    ‘Lil Timmy’ could only be appointed to this position by an ignoramus, it’s an ignoramus to ignoramus thing.

    Report this comment

    Arshloch  
1 2

Sign In To Post Comments! Sign In

Sign Up For Our Newsletter!

Glenn Beck Radio

Listen to Glenn Beck 24/7 Listen Now
Restoring Love