The Department of the Treasury Ensuring Prosperity and Security

By Ahern, Stephanie R. | Joint Force Quarterly, April 2010 | Go to article overview

The Department of the Treasury Ensuring Prosperity and Security


Ahern, Stephanie R., Joint Force Quarterly


ATMs with no cash. Resource-rich governments unable to pay soldiers' salaries. Debilitating unemployment and inflation. A decade ago, most U.S. military leaders were unconcerned about solving these issues. Far outside the military's core competencies, these were someone else's problem. Today, experience has taught us the complex and potentially caustic nexus of the security and economic realms. We now ignore these matters at our own peril.

[ILLUSTRATION OMITTED]

The Department of Defense (DOD) is not alone in dealing with these concerns. The Department of the Treasury is an underleveraged, poorly understood interagency partner, specializing in macroeconomic and financial matters. An interagency featherweight--800 people are in its headquarters building--Treasury punches far above its weight class. However, heavyweights have inherent advantages in some fights. As a result, the better DOD can understand and work with this national security partner, the greater will be the Nation's prosperity and security.

Who Is Treasury?

The Treasury Department is the executive agency responsible for promoting America's economic prosperity and ensuring its financial security. (1) As anyone watching the news knows, this mission demands coordination with other economic and financial regulators, policymakers, and Wall Street entrepreneurs throughout the United States and abroad. Treasury also serves as the President's chief advisor on domestic and global economic and financial issues. This includes matters involving sustainable development, improved governance, stability of the global economy and financial system, and preventing the U.S. financial system from being used to fund illicit activity.

The Department has two primary components. First, Treasury's equivalent of the Pentagon, its Departmental Offices, resides next door to the White House. Defense personnel will most likely deal with professionals from this headquarters. Second, Treasury is responsible for its operating bureaus: the Internal Revenue Service, Mint, Bureau of Engraving and Printing, Financial Crimes Enforcement Network, Alcohol and Tobacco Tax and Trade Bureau, Bureau of Public Debt, Community Development Financial Institution Fund, Financial Management Service, Inspector General, Treasury Inspector General for Tax Administration, Office of the Comptroller of the Currency, and Office of Thrift Supervision. In total, the bureaus employ 98 percent of all Treasury employees. (2)

Long gone are the headquarters' moneyladen vaults and frantic bank tellers. Instead, the headquarters houses the equivalent of three military "Services"--Domestic Finance, International Affairs, and Terrorism and Financial Intelligence--albeit at a fraction of the military Services' size. First, the Office of Domestic Finance deals with U.S.-based finance and banking matters, which are at the center of the current financial matters we see on the nightly news. It helps develop policies and guidance on financial institutions, financial market oversight and regulation, Federal credit policies, debt management, and state and local finance. It also oversees programs such as the deterrence of U.S. currency counterfeits and the Terrorism Risk Insurance Program. Most prominently, the office develops and coordinates Treasury's policies on legislative and regulatory issues affecting financial stability, including the Troubled Assets Relief Program (TARP).

Second, the Office of International Affairs (IA) specializes in macroeconomic matters worldwide. Its mission is to support and protect prosperity at home by encouraging financial stability and sound economic policies overseas. This office helps develop policies related to international economic, financial, monetary, trade, investment, debt, development, environment, bilateral aid, and energy programs. IA serves as the U.S. representative at the International Monetary Fund (IMF), World Bank, and other multilateral development banks. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

The Department of the Treasury Ensuring Prosperity and Security
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.