White House denies report claiming Geithner to resign

By Reuters
Wednesday, July 6, 2011 8:00 EDT
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WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner has not told President Barack Obama he would like to leave after a debt ceiling deal is reached, White House spokesman Jay Carney said on Tuesday.

Sources familiar with Geithner’s thinking said last week he was considering stepping down once the country’s $14.3 trillion debt limit is raised.

That must happen by August 2 to avoid a U.S. sovereign default, according to the Treasury Department.

Carney, when asked whether Geithner had told Obama he would like to leave in that timeline, said: “Not that I’m aware of, no. I think he will be here for the foreseeable future.”

Geithner is the last of Obama’s original economic team. He helped steer the economy out of the worst of the financial crisis and into what is still a fragile recovery.

After that grueling stretch, and with his family moving to New York in a few months, Geithner is thought to be ready to leave Washington. But he sidestepped a direct question about his career plans as speculation brewed last week.

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