You Can Reduce The National Debt Without Congress or The President Doing Anything (Which They Aren’t Doing Anyway)

The U.S. National Debt has topped $14 trillion and it’s anyone’s guess where it’s headed next.  But, did you know that without any agreement from Congress or the President, American citizens are taking matters into their own hands and each year contribute on their own millions of dollars to reduce the debt?

In fact, in 2010 almost $3 million dollars came from average American’s pockets – without taxes or any urging on the part of the government – for the sole purpose of reducing the national debt.  In fact, 2011, as of October, will top the $3million mark for only the second time in history.  It topped $3 million in 2009 at what is considered the peak of the current recession.  When times get tough, Americans get giving it would seem.

With Congress and the President at loggerheads on how to reduce the debt, and no agreement of any kind likely at least before the elections of 2012, thousands of citizens are taking their own action and doing it quietly, without fanfare, or anything more than a quiet thank you letter from the U.S. Treasury.

How It Works

The U.S. Treasury’s Bureau of Public Debt accepts gifts donated to the U.S. Government to help reduce the debt.  And if you’re worried about a donation going to some other nefarious purpose – like $16 muffins – don’t worry.  The debt bureau stipulates that if you donate a sum of money to reduce the national debt, that’s where it must go.

There are other ways of contributing to debt reduction as well.  If you have an outstanding government debt of some kind, you can pay it off and stipulate that the proceeds be used only to reduce the national debt.  Or, if you have some property you are interested in getting rid of, you can donate it to the government and stipulate that when it is sold, the proceeds go to debt reduction.

Making it Easy

The government makes it very easy to donate to debt reduction.  You can pay online by credit card, or via a checking or savings account.  All you have to do is go to Pay.gov to do so.  The website is so simple, you’ll be surprised that the government can be so streamlined (although they are very good at taking money). You fill in a very short form, and press “send.”  It’s that easy.

If you prefer snail mail, you just write a check to the Bureau of Public Debt and mail it, with a note in the memo section that your gift is to go to reducing the debt.  You can mail it to the bureau at P.O. Box 2188, Parkersburg, WV 26106-2188.

So, without the political shenanigans in Washington or the posturing by political candidates, without government gridlock, and without showdowns about various pieces of legislation or raising taxes or cutting programs, Americans can choose for themselves – donate or not.

Of course, $3 million give or take a dollar won’t by itself make a large dent in a $14 trillion problem.  But, as the saying goes – it’s the thought that counts.

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