U.S. Treasury Secretary to stay through debt talks: White House
时间：2012-11-12 01:22:58
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U.S. Treasury1 Secretary to stay through debt talks: White House
WASHINGTON, Nov. 9 (Xinhua) -- U.S. Treasury Secretary Timothy Geithner intended to stay until early next year to help U.S. President Barack Obama ink a deal with Republicans during the looming2 fiscal3 negotiations4, the White House said on Friday.
"Geithner has indicated that he will stay on through
inauguration5 and he will be, obviously, a key participant in the negotiations around the so-called fiscal cliff issues," White House spokesman Jay Carney told reporters at a regular press briefing.
Geithner has said he planned to step down if Obama was reelected, after
helping6 Obama cope with the worst financial crisis in decades.
Unless U.S. Congress acts by the end of this year, a combination of tax hikes and
sweeping7 spending cuts,
dubbed8 as the "fiscal cliff" and with the combined amount of about 600 billion U. S. dollars, was set to kick in.
Democrats9 and Republicans locked horns over how to reduce the nation's public debt
hovering10 at 16.2 trillion dollars and tide over the "fiscal cliff."
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