Geithner Said Planning to Exit at Month-End

Treasury Secretary will depart even if there’s not yet a debt ceiling agreement; White House Chief of Staff Jack Lew is the leading contender to replace Geithner.

Treasury Secretary Timothy F. Geithner finds himself in a familiar position: eager to resume life outside government and facing contentious negotiations with Congress over raising the federal debt ceiling.

The last time he was in this predicament, in June 2011, President Barack Obama persuaded him to stay. This time, Geithner has indicated to White House officials he wants to carry through with his plan to leave the administration by the end of this month, even if a deal on the debt limit isn’t in place, according to two people familiar with the matter

New Cabinet

He’s already nominated Senator John Kerry to replace Hillary Clinton as secretary of state. Lisa Jackson, the head of the U.S. Environmental Protection Agency, announced on Dec. 27 that she will step down. Obama also will be choosing new secretaries of defense and commerce, U.S. trade representative and Central Intelligence Agency director.

Debt Debate

Republicans, as well as some of the president’s allies, say Obama will have little choice about the link between the budget and the debt-ceiling debate.

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