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article imageWill U.S. Treasury Secretary Timothy Geithner resign this fall?

By Andrew Moran     Jul 6, 2011 in Politics
Washington - Will he stay or will he go? Numerous news agencies are reporting that United States Treasury Secretary Timothy Geithner may submit his letter of resignation within the coming months. The White House later denied these reports.
A new Rasmussen Poll finds that Tim Geithner maintains a 22 percent approval rating, while 41 percent view the Treasury Secretary unfavourably and 37 percent still don’t know much about the original economic architect within the Obama administration.
This poll comes as media reports are suggesting that Geithner is stepping down from his post as early as August or possibly in the fall. The Washington Post is reporting that Geithner would resign because his son has decided to attend his final year of high school in New York and would have to travel between Washington and New York on a consistent basis.
He has reportedly told the White House that he will wait to make his decision until the discussions on the U.S. debt ceiling have concluded.
During an event in Chicago, former President Bill Clinton questioned him on his future career plans. “I live for this work, it's the only work I've done, and I believe in it,” said Geithner. “I'm going to be doing it for the foreseeable future.”
If Geithner does resign, he will be yet another high-level Obama official to step down during the President’s tenure. Chairman of the President’s Council of Economic Advisers, Austan Goolsbee, is leaving his post in August to return to a teaching position at the University of Chicago.
The White House is already eyeing a possible replacement for Geithner. The United Press International reports that Erskine Bowles, the former co-chairman of President Barack Obama’s debt panel and former Clinton White House Chief of Staff, is being considered to become the new Secretary of the Treasury.
During a press conference Tuesday, White House Press Secretary Jay Carney denied reports that Geithner has told the President that he is leaving, according to Reuters. When asked if Geithner wants to step down in August, Carney responded: “Not that I'm aware of, no. I think he will be here for the foreseeable future.”
Since 2009, media outlets have reported on a possible Geithner resignation, but thus far it has all been speculation, hearsay and rumors.
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