how is the U.S. Treasury funded?
336186
None really. In theory there is some gold in Fort Knox and every time money is printed it's secured by the gold. In truth, the treasury can do whatever they want. They have a theoretical endless amount of money. Of course, if they print/use too much money - they'll cause inflation that that in turn will lower the purchasing power of that money so the government should be cautious about that.
907129
The federal government keeps all tax money paid.  If no return is filed, assuming there was a refund due, the money just goes into the general fund.\n\nSocial Security is going bankrupt because congress has been raiding the social security trust fund for years to pay for pet programs without appearing to increase the budget deficit.  Yes, both democratic and republican congresses have done this.  Officially it's a "loan" from the trust fund, but it never gets paid back, and the money doesn't earn interest (which it would have if it had been in the trust fund).\nSocial Security isn't going bankrupt because there are too many baby boomers going to retire at the same time, it's going bankrupt because the congressmen we've elected have robbed us blind.\n\nBTW, there *is* a surplus in both taxes and SS every year from illegal immigrants who use fraudulent IDs.  Kicking them all out would end that surplus, and both SS and the federal budget would be even worse off than they are now.
277497
The USA is not borrowing from them.  They are buying US bonds.  They are buying because the USA is stable and that protects their investment.
391660
No it is not true, the USA owes NINE trillion dollars to the people that buy its bonds and treasury notes(these are debts that have to be paid with interest) The USA borrows the money so it can spend it on stuff we cannot afford so they can get votes. They figure, rightly, that most voters are too stupid to know the difference.\nThey could pay for the stuff by raising the taxes, but that is not a good way to get votes.\nThey could spend less but that is not a good way to get votes.\nThis is an inherent problem with a democracy with uninformed voters.\nThe solution is not easy. We have to inform(educate) voters and potential voters(kids) and this costs money. They do not want to sepnd money to inform the voters if it means that eventually the voters will get smart and vote them all out. So they keep the kids stupid by having bad schools and distracting them with TV and games etc. (bread and circuses) this is what caused Rome to fall. Stupidity!\nThey keep the adults stupid by owning and controlling the news (FOX) and rewarding stupidity.(look at who Bush gives medals to) This has worked well so far.\nLook at the intelligence level of the present President. He is an idiot elected by morons. WE ARE ALL DOOMED. All the flag waving and guns and yellow stickers on SUVs is not going to save us.\nWE OWE THE MONEY TO FOREIGN GOVERMENTS mostly, including Red China, and also a lot of rich republicans. you pay the interest to them after they authorize the government to pay it and then take it from your pocket or add it to your own debt which you will pay by inflation.\nASK YOURSELF, who benefits from rising interest rates, rich people who lend and collect interest or poor people who borrow and pay interest. Now you have your answer. YES the govt owes this money and YOU will be paying it and your children and your grandchildren if we do not stop spending money like drunken sailors on useless wars etc. ONLY THE DFENSE CONTRACTORS( LIKE HALLIBURTON) PROFIT FROM WAR.\n\nSOON China will own us and control us and your grandchildren will be learning Mandarin in school so they can get jobs as servants in China.\n\nIT IS TIME FOR RALPH NADER TO BE PRESIDENT! Both the republicans and the democrats have failed and neither can or will ever help us. They are too greedy, stupid and corrupt to do anything but squabble with each other over the spoils.
1045998
Here's a website address that should give you the info you're looking for:\nhttp://www.publicdebt.treas.gov/opd/opdpenny.htm
352436
It depends on how you define budget surplus.  If you ask any real economist, then the US hasn't had a budget surplus since 1960.\n\nTypically, politicians will define the budget as annual tax inflow, including Social Security tax revenue, and subtract from that number the annual total dollar outflow, including Social Security benefits.  The net result in the 1998-2000 for this calculation was a positive number so they called it a budget surplus.  There's a catch, though.\n\nFunds flowing in and out of the Social Security Trust Fund are by law supposed to be kept separate from the rest of government spending.  If we take away the Social Security Trust Fund, we actually ran a deficit for those years, except for 1999 where we had a .7B surplus.\n\nMost economists will say that we should have a budget surplus during the good years of the economy and a deficit during the bad years to try and revive the economy.  However, we've only had 1 surplus since 1960.  Not exactly optimal.\n\nIn 1982, Alan Greenspan recommended the increase in Social Security tax because we would need it to fund the Baby Boomers that are going to retire later on.  After a few years, this worked and Social Security was running a surplus to start stocking up for the later need, which is expected to happen around 2015 when SS is expected to run a deficit again.\n\nWhat has been happening every year is that instead of leaving it for later like we're supposed to in order to pay for later SS benefits, the government has been borrowing from that surplus.  For example, in 1998, the actual deficit (not including SS) was around 30B.  We "borrowed" the 99.2B surplus from SS to pay for expenses and then reported that as a 69.2B surplus.\n\nIf you actually take a look at the national debt numbers, you'll see it.  At the end of 1997, the debt was 5.37 trillion.  At the end of 1998, it was 5.48 trillion.  Obviously, if we really had a surplus, this wouldn't have happened.\n\nIt basically looks great for the politicians to report a better budget than what really happens.  But down the line, around 2020 or later, SS is going to go bankrupt because all of that savings that Alan Greenspan envisioned is getting spent every year.\n\nThe short answer is that he didn't really without using fancy accounting techniques, except in 1999, which was the absolute peak of the economy so tax revenue increased greatly.  It's nothing against Clinton.  Both Republicans and Democrats have been doing the same thing because it looks better for them if the budget looks better.  Down the road, it's the common citizen that is going to face the consequences for our spending today.
458051
best bet is to check the ATF's website \n\nhttp://www.atf.treas.gov/
571057
$183,500 in annual pay\n\nThe Secretary of the Treasury is the principal economic advisor to the President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government.  The Secretary is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. The Secretary oversees the activities of the Department in carrying out its major law enforcement responsibilities; in serving as the financial agent for the United States Government; and in manufacturing coins and currency.\n\nThe Chief Financial Officer of the government, the Secretary serves as Chairman Pro Tempore of the President's Economic Policy Council, Chairman of the Boards and Managing Trustee of the Social Security and Medicare Trust Funds, and as U.S. Governor of the International Monetary Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development.\n\nAct of Congress Establishing the Treasury Department\nChapter XII.\nAn Act to establish the Treasury Department. (a)\n\nSection 1. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That there shall be a Department of Treasury, in which shall be the following officers, namely: a Secretary of the Treasury, to be deemed head of the department; a Comptroller, an Auditor, a Treasurer, a Register, and an Assistant to the Secretary of the Treasury, which assistant shall be appointed by the said Secretary.\n\nSection 2. And be it further enacted, That it shall be the duty of the Secretary of the Treasury to digest and prepare plans for the improvement and management of the revenue, and for the support of public credit; to prepare and report estimates of the public revenue, and the public expenditures; to superintend the collection of revenue; to decide on the forms of keeping and stating accounts and making returns, and to grant under the limitations herein established, or to be hereafter provided, all warrants for monies to be issued from the Treasury, in pursuance of appropriations by law; to execute such services relative to the sale of the lands belonging to the United States, as may be by law required of him; (b) to make report, and give information to either brach of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office; and generally to perform all such services relative to the finances, as he shall be directed to perform.\n\nSection 8. And be it futher enacted, That no person appointed to any office instituted by the Act, shall directly or indirectly be concerned or interested in carrying on the business of trade or commerce, or be owner in whole or in part of any sea-vessel, or purchase by himself, or anoter in trust for him, any public lands or other pulic property, or be concerned in the purchase or disposal of any public securities of any State, or of the United States, or take or apply to his own use, any emolument or gain for negotiating or transacting any business in the said department, other than what shall be allowed by law; and if any person shall offend against any of the prohibitions of this Act, he shall be deemed guilty of a high misdemeanor, and forfeit to the United States te penalty of three thousand dollars, and shall upon conviction be removed from office, and forever therafter incapable of holding any office under the United States: Provided, That if any other person that a public prosecutor shall give information of any such offence, upon which a prosecution and conviction shall be had, one half the aforesaid penalty of
316061
The US dollar is backed by the US Government, (not great but it works). The US government, thankfully, is back by its taxing power over the American people (which is VERY good). I don't think you'll have much to worry about. But I won't keep cash laying around not collect interest or working for you. Inflation is what will really eat away your money.
158714
heres the game\nhttp://www.philipdru.com/griffin_stream.html\n'this leads to that' syndrome, ya gotta understand where the debt comes from & how its blended into the treasury (you).
876215
To answer question properly, we need to break it down.\n\n\nQ. Is the Federal Reserve System a private corporation?\n\nA. No, the system is managed and overseen by government officials. However there is some semblence at the branch level.\n\nTo elaborate: At the top of the Federal Reserve System is the Board of Governors. These are all appointed for 14-year terms by the president and confirmed by congress. It operates per it's charter and laws set by congress. it is also overseen by congress. There is absolutely no structure or mechanism for private ownership at this level. (If someone disagrees, please explain how someone could take legal title to own and control the Board of Governors).\n\nThe 12 branches, however, are organized similar to private corporations. Member banks are required to buy shares in their branch. They can vote for 6 of their 9 board members. The shares get a standard 6% dividend. The shares cannot be sold on the open market. All 'profit' from the Federal Reserve branches are turned over to the Treasury at the end of the year. Whether this branch structure constitutes 'private ownership' is the subject of much debate. Even the courts have a hard time with making the distinction in related decisions. I personally equate it to contracting out; the Board of Governors has oversight and ultimate responsibility but the branch work is carried out by this contrived joint partnership arrangement of member banks.\n\n\nQ. Does the FRS have the power to coin money?\n\nA. No, all minting and printing of money is performed by the Mint and Bureau of Engraving.\n\n\nQ. Does the FRS have the power to order the printing of money?\n\nA. No, only the Treasury is authorized to make that request. The connection is that the Federal Reserve forecasts it's currency needs and submits a request to the Treasury. The Treasury reviews and approves the requests and forwards it on.\n\n\nQ. Does Treasury borrow money from the FRS?\n\nA. Not directly. The Treasury sells Securities on the open market or to other government agencies (like Social Security).\n\nThe FRS will buy/sell T-Notes on the Open Market (i.e. from the public, not the Treasury). About $700B of the $10T in Treasury Notes are owned by the FRS.\n\n\nQ. What about the Interest\n\nA. All 'profit' from the Federal Reserve (mainly T-Note interest) is returned to the Treasury at the end of the year. So after expenses, that means that 98% of the T-Note interest is returned. So it is to the government and tax payers benefit for the FRS to buy T-Notes.\n\n\nQ. Is it correct and the debt can never be paid off under the current money system of country? \n\nA. Technically, yes, but it's not a big deal. The law just says thet FRS currency needs to be collateralized and T-Notes are chosen because they are very liquid and help offset the cost of interest. A small amount of F-Notes are collateralized by assets other than T-Notes (gold, coinage, etc). \n\nIn the unlikely event that all $10T of our nations debt is paid off, the FRS would just have to buy other assets to pump money in the economy. Could be mortgages, CDs, or municipal bonds.
361730
Appropriations Bills provide funding to the U.S. government.
968949
I'm not exactly sure how the money is dispersed, but I would imagine it comes from a travel stipend or something. That might bring up the question of what funds are used to pay for Air Force One. \n\nBut I think it's important for our political leaders, regardless of their party, to do some travelling for the sake of keeping up good relations between other groups.
510934
We shall start with the need for money. The Federal Government, having spent more than it has taken from its citizens in taxes, needs, for the sake of illustration, $1,000,000,000. Since it does not have the money, and Congress has given away its authority to "create" it, the Government must go the "creators" for the $1 billion. But, the Federal Reserve, a private corporation, doesn't just give its money away! The Bankers are willing to deliver $1,000,000,000 in money or credit to the Federal Government in exchange for the Government's agreement to pay it back - with interest! So Congress authorizes the Treasury Department to print $1,000,000,000 in U.S. Bonds, which are then delivered to the Federal Reserve Bankers.\n\nThe Federal Reserve then pays the cost of printing the $1,000,000,000 (about $1,000) and makes the exchange. The Government then uses the money to pay its obligations. What are the results of this fantastic transaction? Well, $1 billion in Government bills are paid all right, but the Government has now indebted the people to the Bankers for $1 billion on which the people must pay interest! Tens of thousands of such transactions have taken place since 1913 so that by the 1980's, the U.S. Government is indebted. to the Bankers for over $1,000,000,000,000 (trillion) on which the people pay over $100 billion a year in interest alone with no hope of ever paying off the principal. Supposedly our children and following generations will pay forever and forever!
13284
You do have to repay U.S. Government loans, such as school loans.  You sign a contract to obtain the loan and the Government has become more aggressive about enforcing those contracts.\n\nYou do not have to repay U.S. Government grants, but you have to compete with other folks to obtain them.
422514
Depends.  State court - usually goes to the state's general funds account, though some states have diversion accounts for funds.\n\nFederal government?  Right into the US Treasury.  Most courts see no %% of the money they collect.
857105
Well, there are some "wonderful" things we do with tax money.  But there's also alot of waste and we spend money on things we probably shouldn't.  \n\nThere are no programs, that I know of, in the federal government where a decent business case of cost/benefit is performed.  We have programs around that have been there for decades and we have no idea if they're still worth doing.   We spend tons of money on things that benefit a very small number of people- tons of pork dollars go to building things fed dollars should never fund and that we frankly can't afford.\n\nWe invest money in research and often times allow the patents (our public patents) to be used by private industry for little to nothing.  then, we as consumers get to pay tons for either drugs, medical care or consumer products that we the public funded to develop.  How does that make sense?\n\nAt this point, 25%+ of the fed budget goes to the military\nAbout 20% or more (I think) goes to pay interest ONLY on the debt.  We never retire any principle on our debt.\n\nLocal taxes etc. is a slightly different story-- still have waste and inefficiecy though.\n\nI personally don't see what I get for my tax dollars (at the federal level) other than things like roads, national parks (which I have to pay to use), consumer protection laws (marginally benefit me that I can tell), college (I paid my tuition-but fed/state dollars go to Universities).  I have never taken advantage of any federal programs, no subisdies, so welfare/TANF.  So what am I getting for my money?  Not much that I can see.  Yet I pay quite a bit of dough each year to the fed and state.  More than alot of people make in a year.  \n\nWe get taxed for pretty much everything we come in contact with-- think about it.  Income, consumption of all sorts, gasoline, phone, utilities, property.  Next thing you know, they're going to tax the air we breath.  Its get tiresome and eats away at everybody's earnings.