Geithner Not Leaving Anytime Soon
U.S. Treasury Secretary Timothy Geithner told President Obama Friday that he will stay at his position at least through the 2012 election.
In late June, people close to Geithner reported that he would resign once the debt limit was raised this month. Congress voted on August 2 to raise the limit, and Obama signed the bill hours later.
Geithner, 49, the sole remaining member of Obama’s original economic team, agreed to stay at Treasury after receiving a personal request from Obama.
“I believe in this president,” said Geithner during an appearance on NBC this weekend. “If a president asks you to serve, you have to do it.”
“The President asked Secretary Geithner to stay on at Treasury and welcomes his decision,” White House spokesman Jay Carney said in a statement.
Not everyone is happy about Geithner’s decision, however.
Rep. Allen West (R-Fla.) told Fox News Monday morning that Geithner should be replaced due to his lack of intelligence and a basic understanding of what is occurring with the economy.
“I don’t think that Timothy Geithner really has a handle on the fiscal situation here in the United States of America,” West said.
Geithner’s decision was made public hour before credit rating agency Standard & Poor’s downgraded the U.S. debt from AAA to AA+.
Republicans Bash Obama's Bus Tour
As President Obama completes his bus tour through the Midwest Wednesday, Republicans charged that Obama diverted his focus on the economic crisis and dragged in politics.
“This bus tour is nothing but another campaign jaunt for this president,” Republican National Committee Chairman Reince Priebus told reporters today.
“I think he should spend a little bit more time in the White House doing his job as opposed to running around on Canadian busses and planning his next vacation in Martha’s vineyard,” Priebus added.
Priebus mentioned that the bus tour is being paid for by taxpayers, which he felt was “outrageous” due to the level of political commentary from the President.
Priebus continued to criticize Obama for allowing the economy to fail by not producing a job creation plan.
“We have no plan from the president. We have no engagement from the president. But what we do have are forensic winning speeches that he likes to give with no plans at all for our country to get it back to work. Obama’s economy has failed,” Priebus said.
Illinois GOP Chairman Pat Brady concurred with Priebus and explained how lagging economic growth has affected Illinois in particular.
“Citizens in the state of Illinois, since Obama has taken office, pay more taxes, they pay more for groceries, they pay twice as much per gallon for a gallon of gas, and we have one of the highest sales taxes in the country,” Brady explained to reporters.
“We have the worst deficit and debt in the country,” Brady continued. “President Obama: your buddies in Illinois have done a miserable job handling the economy in this state.”
President Obama’s three day bus tour spans Iowa, Minnesota and Illinois.