PARKERSBURG, W.Va. — In a fifth-floor cubicle in a federal office building here is a wire-frame basket labeled “Gifts.”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.
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.
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.
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