Function of the Treasury

Due to QE2 supposedly finishing in a few months I was wondering what is the actual function of the Treasury.


The basic functions of the USA Department of the Treasury include:

1. Managing federal finances;
2. Collecting taxes, duties and money paid to and due to the U.S. and paying all bills of the U.S.;
3. Producing all postage stamps, currency, and coinage of the U.S.;
4. Managing government accounts and the United States public debt;
5. Supervising national banks and thrift institutions;
6. Advising on domestic and international financial, monetary, economic, trade and tax policy – fiscal policy being the sum of these, and the ultimate responsibility of Congress.
7. Enforcing Federal finance and tax laws;
8. Investigating and prosecuting tax evaders;
9. Publishes statistical reports.

Managing federal finances;

US is in one of the worst Finacial crisis in its history with trillion dollar deficit and supporting it through quantative easing by Federal Reserve bank. 

Collecting taxes, duties and money paid to and due to the U.S. and paying all bills of the U.S.;

GE paid no corporate taxes and actually got a tax credit of around three billion dollars. Majority of payment of bills seemed to be significantly paid by Quantative easign of Federal Reserve.

Managing government accounts and the United States public debt.

US has most debt it has ever had in is history and the perception of the US government accounts is trending negative.

Supervising national banks and thrift institutions;

One of the worst banking disaster has just taken place and the recovery does not look good.

Advising on domestic and international financial, monetary, economic, trade and tax policy 

Majority of policy seems to support certain levels of power not the majority of US residents.

Enforcing Federal finance and tax laws;

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Investigating and prosecuting tax evaders;

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Publishes statistical reports.

Based on the above current actions it is only expected that the statistical reports being produced will used for management of perceptions not on reality.