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Also: Tan Twan Eng wins the Man Asian prize; Aaron Swartz posthumously honored by the American Library Association; Sheryl Sandberg on Madeleine L'Engle.
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Sally Jewell, REI's CEO, would succeed Secretary Ken Salazar. She's a former engineer at Mobil.
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Timothy Geithner presided over Treasury at a particularly tumultuous time. The banking system was still in a crisis, and people were soon calling for his head. Naming his replacement four years later, President Obama said Geithner will be remembered "as one of our finest secretaries of the Treasury."
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A hard reality any re-elected president must face is that there are only so many people who have the president's confidence, experience to run a Cabinet department, personal backgrounds that can withstand vetting, and are politically acceptable to the opposition party.
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Lew, who earlier was budget director in both the Obama and Clinton administrations, has long been thought to be the leading candidate to replace Timothy Geithner.
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President Obama may go into the next round of fiscal battles without his long-time Treasury Secretary. Tim Geithner reportedly plans to step down in January, even as the Treasury Department is scrambling to avoid cracking the government's debt ceiling. Robert Siegel talks with Scott Horsley about that and other personnel changes as the president prepares for his second term.
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Despite differences with Republicans on spending cuts and revenue increases, the treasury secretary said the two sides were "moving closer together" on a solution for deficit reduction. House Speaker John Boehner said he did not share that optimistic assessment.end-of-year deadline
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The White House and congressional leaders continue to talk about taxes, spending cuts and how to avoid an end-of-year deadline — when Bush-era tax cuts are set to expire and automatic spending cuts are set to go into effect.
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As political leaders try to reach a deal to avoid automatic spending cuts and tax increases at the year's end, income tax rates are a major sticking point. President Obama wants to raise taxes for some; Republicans don't want any hikes. But if nothing is done, rates could go up across the board.
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A second term means some new Cabinet appointments for President Obama, including at Treasury. After four pretty grueling years, Secretary Timothy Geithner has made it clear he will be leaving Washington, but who will replace him? Erskine Bowles and Jack Lew are two names that are mentioned.