Debt deal done, Obama’s Treasury secretary could depart - The Oval: Tracking the Obama presidency
Speculation is rife in Washington that Geithner, who has outlasted all of President Obama’s other original economic advisers, will resign now that the nation’s borrowing capacity has been extended to 2013 and a 10-year, $2.1 trillion deficit-reduction agreement enacted.
Geithner’s consideration of a return to New York, where he formerly headed the Federal Reserve Bank of New York, was first reported by Bloomberg News in late June. As recently as Tuesday, he told ABC’s Good Morning America, “I haven’t made that decision yet.”
Geithner would have to be a glutton for punishment to stick around until the “Super Committee” stuffed with 6 GOP right wingers fails to meet the agreed targets. Because then, the real fun starts. Automatic triggers which will present a massive challenge to Treasury, in a battle against negative market perception Geithner could only lose. Managing the markets ahead of the debt-ceiling vote is as close to a “win” Geithner will have to show between now and the end of BHO’s first term. Dollars to donuts he announces his departure before Labor Day.