Timothy Geithner To Stay At Treasury Through 2012
After much speculation that he’d be leaving the Obama Administration, Timothy Geithner has decided to stay at the Treasury Department for now:
Treasury Secretary Tim Geithner is staying put.
The secretary informed President Obama that he plans to say on in his position, ending speculation that the last member of President Obama’s original economic team would depart. White House Press Secretary Jay Carney says President Obama asked Geithner to stay.
Rumors swirled that Geithner would leave the administration after Congress raised the debt ceiling. The annoucement comes days after the major credit rating agency, S&P, downgraded the United States’ credit rating.
In a statement, Assistant Treasury Secretary for Public Affairs Jenni LeCompte said Geithner “looks forward to the important work ahead on the challenges facing our great country.”
Not really a surprise, actually. Notwithstanding the debt downgrade, its clear that Obama wants Geithner to stay on for the moment, largely because the idea of a confirmation battle right now likely unnerves the Administration. Of course, this will also likely lead to more Republican calls for Geithner’s resignation but that clearly isn’t going to happen.
Eliminate the Federal Reserve
Go back to the gold standard
Watch the economy grow.