Thursday, September 23, 2010

Gifts Helping the Economy

Not only does the government work on our national debt but on occasion so do individual contributors.
PARKERSBURG, W.Va. — In a fifth-floor cubicle in a federal office building here is a wire-frame basket labeled “Gifts.”
Every few days, an envelope arrives, and a Treasury Department employee opens it. Inside, usually, is a check, often with a letter explaining why the sender wants to do his or her part to help reduce the federal debt of the United States.
A very small part, to be sure.
Last year, the Bureau of the Public Debt recorded $3.1 million in gifts, more than has been usual since the government began accepting such donations in 1961. At that rate, it would take millions of years to retire the $13.4 trillion the country owes its creditors, foreign and domestic.
If all the citizens of the united states were able to do this the national debt would be gone in  a matter of months instead of millions of years.

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