The UK Telegraph is reporting that its "senior Capitol Hill source" says Gen. McChrystal has "tendered his resignation" to President Obama and the White House is "actively discussing a replacement who could quickly be confirmed by the Senate."

As the paper points out, offering one's resignation is not the same as resigning.  The Telegraph's story has yet to be verified by any independent sources.  As far as I can tell, it remains unclear whether the president will accept the General's resignation. 

Even if the story is true, the Washington Post wonders whether the president can truly afford to lose McChrystal as U.S. forces are on the cusp of a major offensive operation in Kandahar. 

Stay tuned.  Tomorrow's White House meeting should be... interesting.