Treasury Department | featured news

Republicans would accept a “mini” deal with the Obama administration on raising the debt limit, Senator John Cornyn of Texas, a Republican leader, said. Cornyn said today on “Fox News Sunday” that while Republicans would prefer a long-term settlement, they would accept a shorter-term agreement if that’s all they could get done. The U.S. Treasury Department has projected that on Aug. 2 the U.S. will no longer be able to meet obligations if the legal debt ceiling isn’t raised.

The Treasury Department said on Thursday it reached an agreement to sell its remaining 6 percent equity stake in Chrysler to Italy's Fiat in a deal that will net Washington $560 million.

The United States has not seen a balanced budget since 2001. Although private banks in the U.S. hold the majority of the country’s debt, over 52% according to MSNBC, the Treasury Department and the Federal Reserve Board estimate that foreign governments hold 4.4 trillion of the country’s $14 trillion debt in Treasury securities.

The government posted a record monthly budget deficit of $222.5 billion in February as spending growth outstripped revenue gains that were crimped by tax cuts enacted late last year, the Treasury Department reported on Thursday.

The Obama administration has begun monitoring the high-level board meetings of nearly 20 banks that received emergency taxpayer assistance but repeatedly failed to pay the required dividends, according to Treasury Department officials and documents. And it may soon install new directors on some of their boards.

China boosted its holdings of U.S. Treasurys to its largest position in nearly a year during October as it remained the largest foreign holder of U.S. government debt, the Treasury Department said.

The Treasury Department will begin selling off the remaining 2.4 billion shares of Citigroup common stock the government holds as a result of aid provided to the bank during the financial crisis.

The United States racked up a $165.04 billion budget deficit during July, 8.7 percent below the year-ago gap as spending on economic stimulus subsided from peak levels, the Treasury Department said on Wednesday.

The House ethics committee Monday unveiled a three-count charge against Rep. Maxine Waters (D-Calif.) alleging she broke congressional conflict-of-interest rules when she helped arrange a meeting of bank officials and Treasury Department ...

The Treasury Department said Monday that it plans to sell up to 1.5 billion shares of Citigroup stock, its latest move to unwind the support it provided big banks during the financial crisis....