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Wednesday, February 15, 2012

Treasury Consolidation Would Merge Debt Division.

The White House on Monday said it wanted to consolidate the Bureau of Public Debt and the Financial Management Service within the Fiscal Service, another Treasury division. They say it will “streamline and modernize operations.”

“The consolidation also strengthens Treasury’s leadership of Federal financial management issues, reduces costs, and enhances efficiencies by further modernizing Federal financial management processes,” the White House said. It’s unclear how much money it will actually save.

-Damian Palleta, WSJ.com

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