Make the Treasury Department truly responsible for managing all the government's debt. Managing only Treasury securities deals with only about half, and sometimes less than half, of the effective government debt.

Until Alan Greenspan’s testimony on January 25, the goal of paying off the national debt had assumed the status of conventional wisdom in Washington. Now some of the trade-offs are becoming clear. Although many people believe that tax cuts or increases in government spending can prevent the complete liquidation...

The future of Fannie Mae and Freddie Mac is becoming cloudier. Legislation in Congress and a clear lack of support at the Treasury are harbingers of political difficulties ahead. Perhaps more important is the fact that these two government-sponsored enterprises (GSEs) are growing faster than the housing market. By...

If we end the overcharge through a tax cut, some of the income will be consumed, giving an immediate boost to an economy that has been sagging and the rest will be invested.

Without a major tax cut, the budget surpluses forecast over the next decade will generate an unprecedented hoard of cash for the U.S. Treasury.