The United States Department of the Treasury has duties akin to that of a corporation's accounts payable and accounts receivable department. The Treasury is responsible for the following: managing federal finances; collecting taxes, duties and monies paid to and due to the U.S.; paying the country's bills; making currency and coinage; managing government bank and credit accounts, and the public debt; supervising national banks and thrift institutions; advising on all financial, monetary, economic, trade and tax policy; enforcing federal finance and tax laws; and investigating and prosecuting tax evaders, counterfeiters and forgers.

On the Other: Goals for 2007-2012

While the U.S. Congress enacts laws that dictate how the Treasury can spend money to help stabilize the economy, the Treasury department itself has crafted a 2007-2012 strategic plan to "improve economic opportunity, mobility and security with robust, real, sustainable economic growth at home and abroad." The department plans on accomplishing this goal by ensuring the success of "competitive capital markets, free trade and investment, prevented or mitigated financial and economic crises and decreased gap in global standard of living."

Bottom Line

While the Treasury needs Congress and the President's direction in order to act when it comes to monetary distribution, it does play a vital role in helping to stabilize the economy through policy decisions.

Source:

US Treasury Strategic Plan: 2007-2012

US Treasury Mission, Duties, and Functions