Can someone tell me what the US treasury department is and its purpose?
- Anonymous9 years agoFavorite Answer
It actually serves many purposes. It prints currency (although the Federal Reserve controls the money supply by dispersing it), it collects revenues. When a business is fined, or people/businesses do not pay their taxes, the IRS (Internal Revenue Service), which is an agency within Treasury, a cts as the collection agency for the government.
It also issues and manages the national debt. When Congress passes spending bills, it is up to the Treasury Dept to issue debt to cover the deficit when spending exceeds income (revenues) The Bureau of Public Debt, anther agency within Treasury, manages the debt
- Anonymous9 years ago
It's where they store treasure that is found buried in the sand and in sunken ships.