This paper reviews the effects of past forest management on carbon stocks in the United States, and the challenges for managing forest carbon resources in the 21st century. Forests in the United States were in approximate carbon balance with the atmosphere from 1600-1800. Utilization and land clearing caused a large pulse of forest carbon emissions during the 19th century, followed by regrowth and net forest carbon sequestration in the 20th century. Recent data and knowledge of the general behavior of forests after disturbance suggest that the rate of forest carbon sequestration is declining. A goal of an additional 100 to 200 Tg C/yr of forest carbon sequestration is achievable, but would require investment in inventory and monitoring, development of technology and practices, and assistance for land managers.