Treasury Department

(Newser) - The ongoing housing implosion poses “a significant risk” to the economy, Treasury Secretary Henry Paulson said in a speech at Georgetown University today, in a sobering about-face from earlier attempts to downplay the crisis. “The ongoing housing correction is not ending as quickly as it appeared,” he...

(Newser) - Slashing benefits or hiking taxes—or both—is the only way to make the Social Security system solvent, reports a Treasury Department briefing paper. Treasury Secretary Henry Paulson warned that faster economic growth alone won't solve the money problems of  Social Security, which faces a $13.6 trillion shortfall in...

(Newser) - Even Ben Franklin has a little work done every now and then. The $100 bill, which bears the founding father's image, is undergoing a state-of-the-art redesign aimed at thwarting counterfeiters who target the C-note more than any other denomination, the AP reports. The new security thread utilizes microprinting and 650,...

(Newser) - President Bush is considering a new package of corporate tax breaks in a bid to perk up Wall Street, calm volatile markets and send a message the economy is sound, the Washington Post reports. At the same time he rejected Democratic proposals to allow Fannie Mae and Freddie Mac more...