GEITHNER RESIGNING

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Posted on 3rd January 2013 by Administrator in Economy |Politics |Social Issues

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The heartbreaking announcement and a pictorial tribute to Turbo Tax Timmy.

Geithner said to leave Treasury at end of January

WASHINGTON (MarketWatch) — Treasury Secretary Timothy Geithner plans to leave his post at the end of January, according to a report by Bloomberg News. The report, quoting two people familiar with the matter, said that Geithner will not stay even if Congress has not passed an increase in the debt ceiling. Analysts said that White House chief of staff Jack Lew is the best guess to replace Geithner. Republicans have vowed to use the debt ceiling vote as leverage to win cuts in federal spending and changes in federal entitlement programs. President Barack Obama said he will not negotiate the debt limit with Congress. Treasury has taken some extraordinary measures to avoid hitting the debt limit. But these measures are only expected to last about two months.