Duties & Functions of the U.S. Department of the Treasury. Mission Maintain a strong economy and create economic and job opportunities by promoting the conditions that enable economic growth and stability at home and abroad, strengthen national security by combating threats and protecting the integrity of the financial system, and manage the U.S.
Government’s finances and resources effectively. US Treasury Able to Buy More Time if Debt Limit Returns. The U.S.
Treasury Department said it could redeploy emergency cash measures from May 19 if necessary to ensure the government could keep borrowing money, a Treasury official said on Thursday. A bill allowing the U.S. government to borrow money beyond its record $16.4 trillion debt limit won final Congressional approval earlier on Thursday. The bill, which needs to be signed by President Barack Obama, suspends the debt limit until May 19.
(Read More: Fed's Beige Book: Fiscal Uncertainty Impacting Hiring) The Treasury's so-called "extraordinary measures" would likely push into July the date before the government hits its legal borrowing limit as imposed by Congress. U.S. Department of the Treasury.