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US Treasury

'Chicken Money' Safety vs. Interest

Terry Savage | Posted 02.19.2015 | Money
Terry Savage

Low rates are a great way to help the government finance its growing deficits. But they sure make it tough for savers and retirees who wanted to live on the interest from their savings. Here are five things you should know about "chicken money."

An Emotional, Poorly Argued Attack on Elizabeth Warren from Times' Sorkin

Richard (RJ) Eskow | Posted 01.25.2015 | Politics
Richard (RJ) Eskow

Sorkin's periodic defenses of the powerful are no longer unexpected. More surprising is the overall theme of this attack, which characterizes the congenial senator as enraged and wrathful, and her position as petty and irrational.

Wall Street Leading Washington Yet Again: What Was Obama Thinking?

Robert Kuttner | Posted 01.23.2015 | Politics
Robert Kuttner

If you want to understand what makes Elizabeth Warren so special in American politics, consider her nervy leadership of the campaign to block President Obama's foolish nomination of one Antonio Weiss to be the top Treasury official in charge of the domestic financial system, including enforcement of the Dodd-Frank Act. For most of his Wall Street career, Weiss has epitomized everything that reeks about financial abuses. As chief of international mergers and acquisitions for Lazard, Weiss orchestrated what are delicately known as "corporate inversions," in which a domestic corporation moves its nominal headquarters offshore, to avoid its U.S. taxes. And that's only the beginning. Many of the other deals orchestrated by Weiss resulted in operating companies being bought and sold by giant conglomerates, where the "savings" and "increased efficiency" came mainly from tax breaks and reduced worker compensation.

Future Homebuyer Pockets Picked By Washington Lawmakers

Garrick T. Davis | Posted 12.15.2014 | Politics
Garrick T. Davis

The homebuyer of tomorrow should not be asked to pay for the fleeting temporary tax reduction and unemployment benefit extension of yesterday.

Kate Sheppard

Hardcore Capitalists Warn That Climate Change Is A Really Big Deal | Kate Sheppard | Posted 06.24.2014 | Politics

Another day, another climate change report predicting serious consequences for the United States. Tuesday's report, however, focuses on the devastatio...

The U.S. National Debt: Can The Federal Reserve Perform Fiscal Alchemy Forever?

Sheldon Filger | Posted 07.27.2014 | Politics
Sheldon Filger

In the year 2000, as George W. Bush assumed the role of 43rd president of the United States, America's national debt stood at $ 5.7 trillion, while th...

Jack Lew's Prostate Surgery 'Went Well,' U.S. Treasury Says

Reuters | Posted 05.25.2014 | Politics

WASHINGTON, March 25 (Reuters) - U.S. Treasury Secretary Jack Lew's treatment for a benign enlarged prostate on Tuesday "went well and as planned," ...

Report: Obamacare 'Cadillac Tax' Comes With Unintended Consequences

Leah Binder | Posted 05.23.2014 | Business
Leah Binder

Slated to go into effect in 2018, the mere threat of the Cadillac Tax has already decreased the income of millions of American workers, according to the Towers Watson/NBGH report.

Jack Lew To Undergo Treatment For Enlarged Prostate

Reuters | Posted 05.23.2014 | Politics

WASHINGTON, March 23 (Reuters) - U.S. Treasury Secretary Jack Lew will have an outpatient surgical procedure in New York on Tuesday for treatment of...

Republicans Urge Congress To Repeal Anti-Tax Dodging Law

Reuters | Posted 03.26.2014 | Politics

By Patrick Temple-West WASHINGTON, Jan 24 (Reuters) - The Republican National Committee (RNC) on Friday called for the repeal of a U.S. ...

Head Of Nation's Bank Bailout Running For California Governor

AP | JULIET WILLIAMS | Posted 03.23.2014 | Politics

SACRAMENTO, Calif. (AP) — Neel Kashkari, a former U.S. Treasury official who was the architect of the nation's bank bailout at the height of the rec...

Kate Sheppard

Another International Lender Pledges No More Coal | Kate Sheppard | Posted 01.25.2014 | Politics

WASHINGTON -- The U.S. Export-Import Bank has joined the growing list of international financial institutions that will no longer finance coal project...

DRAMA: Treasury Lashes Out At Germany

Reuters | Posted 01.23.2014 | Business

By Jason Lange WASHINGTON, Oct 30 (Reuters) - The United States reprimanded Germany on Wednesday, saying its exporting...

What Would Happen to the Student Loan Portfolio If the Debt Ceiling Is Breached?

C. Cryn Johannsen | Posted 01.23.2014 | Business
C. Cryn Johannsen

When it comes to student loans, the ones owned by the U.S. government, things could get problematic if the U.S. Treasury finds itself selling off its assets.

First U.S. Default Ever? Not So Much.

AP | CONNIE CASS | Posted 10.14.2013 | Politics

WASHINGTON -- WASHINGTON (AP) — You hear a perfect record cited over and over in the debt limit debate: The United States has never defaulted. Bette...

Hundreds Of U.S. Security Clearance Records Reportedly Falsified

Reuters | Tabassum Zakaria | Posted 11.24.2013 | Politics

WASHINGTON, Sept 25 (Reuters) - Federal prosecutors have documented at least 350 instances of faulty background investigations done by private contr...

Treasury To Reach Debt Limit In Mid-October

Posted 08.26.2013 | Politics

UPDATE: 4:14 p.m. ET-- In a Monday letter to House Speaker John Boehner (R-Ohio), Treasury Secretary Jack Lew said latest estimates show the U.S. hitt...

Elizabeth Warren Doesn't Want More 'Change'

The Huffington Post | Ashley Balcerzak | Posted 08.06.2013 | Politics

Sen. Elizabeth Warren (D-Mass.) said "no" to change. Spare change, that is. She rejected the idea of replacing $1 bills with $1 coins, which lawmak...

Has the Fed Lost Control?

Nick Beecroft | Posted 08.21.2013 | Business
Nick Beecroft

I had expected the Fed to 'grab the nettle', and this week's FOMC statement and Bernanke's comments at the subsequent press conference certainly did n...

The Tax Man Targeting our Right to Diversity of Thought

Wendy N. Powell | Posted 07.17.2013 | Politics
Wendy N. Powell

We all have skin in this game to maintain our liberties. It is an ironic turn of events that the very issue of inappropriate scrutiny of our liberties is now the focus of the IRS by the public, media, elected officials; even the ACLU has raised its head.

This Company's Record Profits Might Make You Sick

AP | MARCY GORDON | Posted 06.02.2013 | Business

WASHINGTON — Home prices are up. Foreclosures are down. Construction is up. And now comes the latest sign of the U.S. home market's revival: Fan...

Americans About To Lose Nearly $1 Billion To The IRS

AP | By STEPHEN OHLEMACHER | Posted 05.14.2013 | Business

WASHINGTON (AP) — If you didn't bother filing a federal tax return for 2009, it might be a good time to rethink your tax strategy. Th...

Nonbelievers Sue Treasury To Remove 'God' From Currency

The Huffington Post | Nick Wing | Posted 03.15.2013 | Politics

The Freedom From Religion Foundation and 19 other plaintiffs mounted a lawsuit against the U.S. Treasury Department and other government officials thi...

Rand Paul Is Doing His Share

The Huffington Post | Lisa_Miller | Posted 02.22.2013 | Politics

Sen. Rand Paul (R-Ky.) is doing his part to give back to the government, one oversized check at a time. Paul, a member of the Tea Party, wrote a $...

Bernanke Blows Bond Bubble Into Stocks

Michael Pento | Posted 04.09.2013 | Business
Michael Pento

I expect it will not be until inflation becomes a serious and undeniably-painful condition for the economy that Mr. Bernanke begins to change his mind. And any change that does eventually occur will be slow and gradual... at best.