President Obama may be going into the next big budget fight without his long-time treasury secretary. Timothy Geithner had been planning to leave before the start of the president's second term, but that would mean he is departing with the debt ceiling still looming and the Treasury scrambling to keep up with the government's bills.
ROBERT SIEGEL, HOST:
NPR's Scott Horsley joins us now. And, Scott, Secretary Geithner has made no secret of his plans to leave the government, but it sounds like his departure could be complicated.
Originally published on Sun December 2, 2012 12:50 pm
By Krishnadev Calamur
Treasury Secretary Timothy Geithner took to the Sunday talk shows to push the Obama administration's plan to avert the "fiscal cliff," saying that while he was optimistic about a deal with Republicans, there would be no agreement without an increase in tax rates for the top 2 percent of income earners.
The White House and congressional leaders continue to talk about taxes, spending cuts and how to avoid the so-called fiscal cliff that arrives at midnight Dec. 31 — when Bush-era tax cuts are set to expire and automatic spending cuts are set to go into effect.
As NPR and others cover the story, we'll try to to point to interesting reports and analyses. Here are three of the latest.
"No substantive progress has been made." That's what House Speaker John Boehner had to say Thursday about efforts to avoid automatic spending cuts and tax increases at year's end.
The administration's lead negotiator, Treasury Secretary Tim Geithner, met with congressional leaders from both sides of the aisle Thursday, looking for an agreement on the hazard Congress and the White House created last year to focus their minds on deficit reduction.
A second term means some new Cabinet appointments for President Obama, including at the Treasury. After four pretty grueling years, Secretary Timothy Geithner has made it clear he will be leaving Washington.
White House press secretary Jay Carney said last week that Geithner would be staying on through the inauguration. He's also expected to be a "key participant" in "fiscal cliff" negotiations.