In order to spend more time with his familt, Tim Geithner (49), the United States Treasury Secretary, will be resigning the job after the looming debt ceiling issue is resolved.

After taking up the job in January, 2009, with a lot of non-stop cascade of economic problems since he entered the office initially with the financial and housing markets turmoil of 2008-2009 and then difficult negotiations between the White House and Congress to reduce U.S. debt and boost job opportunities.

By August 2, there is a need to break the negotiations logjam over the U.S. debt limit, currently at $14.3 trillion.

The media reports opined that he quoted three people related to the matter Mr. Geither “signalled to White House officials that he is considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit… Geithner hasn’t made a final decision and won’t do so until the debt ceiling issue has been resolved.”

Speaking at an event when Washington news wires a abuzz with the development Mr. Geithner sought to downplay any notion and whether he had made any decision on this subject, he stated that, “I live for this work, it’s the only work I’ve done, and I believe in it… I’m going to be doing it for the foreseeable future.”

One reason he would considering to leave the job is that his son is going to attend school in New York.