And another one bites the dust.

Is it true that rats abandon a sinking ship?

Bush Spokesman Snow Resigns for Financial Reasons

Aug. 31 (Bloomberg) -- White House press secretary Tony Snow is resigning Sept. 14, 16 months before the end of the Bush presidency in January 2009.

Dana Perino, 35, who grew up in Colorado and has been deputy press secretary since March 2006, will become President George W. Bush's chief spokesman, said Tony Fratto, another deputy press secretary.

Snow, 52, who is battling a recurrence of colon cancer, cited financial reasons for his departure. Snow is paid $168,000 as White House press secretary.

"It's not a health matter," Snow said today in an interview. "It's purely financial. I feel terrific."

Snow was a television commentator for News Corp.'s Fox News before becoming Bush's chief spokesman in April 2006. He is married and has said he wants to make more money before his three children are ready for college.

Snow is the latest of top aides to President George W. Bush to leave before the president's term ends. Political strategist Karl Rove announced Aug. 13 he was leaving by the end of August, and Attorney General Alberto Gonzales announced his departure on Aug. 27.