Posted on 08/15/2025 6:26:31 AM PDT by delta7
The US Treasury Department is extremely desperate for any morsel it can find to put toward the $36.7 trillion national debt. Is Donald Trump asking Americans to Venmo or PayPal the US government cash to pay down the national debt? Not quite, as the Treasury has a long-standing program called “Gifts to Reduce the Public Debt” that asks Americans to donate their personal funds toward government spending.
Trump introduced the option to pay through online platforms such as PayPal or Venmo; however, the program began decades ago in 1996. The Pay.gov website also accepts bank transfers, debit or credit cards. You could probably offer your first-born as payment as the Treasury is indeed that desperate.
Some Americans are indeed voluntarily giving the government money. In fact, the initiative has collected $67 million since it began in 1996 and the coffers are growing a mere $120,000 per month since 2020. The rest of us are involuntarily providing the government with money through taxation without representation.
Obviously, the charitable contributions are a complete joke and could not account for even a day of interest on the national debt. Still, the options exist and those who believe that taxes deserve to rise should willingly hand over their money to the government while the rest of us attempt to navigate our finances amid the volatile conditions the government has created. They will continue to collect more taxes rather than curtail spending involuntarily, yet they will never collect enough.
Some consider donating to the lost cause that is the US government as a tax deductible charitable contribution. The US government, the largest economy on the planet, does not need charity. The US government needs to curtail its reckless spending and hold politicians responsible for their endless waste.
It’s a daunting challenge to attempt to pay down the federal debt.
——————
The sad fact is our debt is mathematically impossible to pay off. Schemes to delay our eventual default are hatching, Stable coins, Gold revaluation, 50 year Gold backed bonds, etc, etc…desperation, but I don’t blame Trump for at least trying.
They will all fail, a kid with a calculator can see how this ends.
“Where does Martin live?”
Florida
Ten year projection- SURPLUS
“The sad fact is our debt is mathematically impossible to pay off. “
All we have to do is run a surplus. Inflation will then wipe it out.
We are projected to run a surplus over the next ten years.
Put your head between your legs and kiss your ass goodbye.
1) this will not get “fixed”
2) it will come to a very dramatic end
3) the only uncertainty is when
At my age, I am reasonably safe to pass before the SHTF. It worries me what will happen to the good, productive younger people like (a few anyway) members of my family. My daughter and nephew are working hard and doing top notch jobs of saving for retirement. It is heartbreaking to consider they could be no better off than their familial welfare leeches of the same generation.
You have an amazing database of fake posts tou copy/paste tonth8s forum.
Read the federal flow of funds quarterly report. If everyone put every single penny they have into paying the debt it still would not be enough. There is about $24 trillion out there and the debt is $37 trillion.
Which means that at some point the government, after The Fed becomes the last market of resort, i.e. buying all of our own debt, we will Default on the Debt and the government collapses and the country breaks up into a collection of sub countries.
Only using static analysis.
This is all gaslighting for higher inflation.
Yes. The first step is to reduce the growth of the federal deficit. Next step is to reduce the actual deficit itself.
When the federal deficit is under control and producing surpluses year after year then the country can start actually reducing the debt (if that ever happens).
In the meantime the interest on the debt continues to consume the budget. THIS is the trigger for the politicians to maybe do at least slow down the debt increase.
As the interest on the debt takes away all ‘their’ money then suddenly the federal debt becomes important.
The ONLY way to defend against our insane Neocons is to pull together as a united front with Russia, China, North Korea, and others against the West.”
——————————-
When Martin posted his article, he stated that is exactly what Russia had done, very successfully, It worked ! Western Neo-cons have been Checkmated ( for now). Amen.
Our Neo cons are a stupid bunch, but not stupid enough to go to war with Russia, China, etc, over the Ukrainian toilet, as we are a witnessing. ( Alaska meeting).
In any case, prepare to take a few Valiums when the Russian Donbass is formally declared “ the RUSSIAN Donbass”….so so sad the West wasted $$$ Billions of taxpayer’s money - they learned a good lesson.
All we have to do is run a surplus. Inflation will then wipe it out.
———————
You are funny.
IATG
IATS
😂😂😂😂😂😂😂😂
How do like Chicken Kiev? Prepare to eat a lot of it, served fresh, not frozen….
It’s on the menu…..I hear Lavrov and Vlad will also be eating a lot of Chicken Kiev in Alaska!
3]
Criminal conviction
In 1999, Japanese fraud investigators accused Armstrong of collecting money from Japanese investors, improperly commingling these funds with funds from other investors, and using the fresh money to cover losses he had incurred while trading.[13] United States prosecutors called it a three-billion-dollar Ponzi scheme.[14] Allegedly assisting Armstrong in his scheme was the Republic New York Corporation, which produced false account statements to reassure Armstrong’s investors. In 2001, the bank agreed to pay US$606 million as restitution for its part in the scandal.[14]
Armstrong was indicted in 1999 and ordered by Judge Richard Owen to turn over fifteen million dollars in gold bars and antiquities bought with the fund’s money; the list included bronze helmets and a bust of Julius Caesar.[15][16] Armstrong produced some of the items but claimed the others were not in his possession; this led to several contempt of court charges brought by the SEC and the CFTC, for which he served seven years in jail until he reached a plea bargain with federal prosecutors.[17][18][19] Under the terms of the agreement, Armstrong admitted to deceiving corporate investors and improperly commingling client funds—actions that according to prosecutors resulted in commodities losses of more than seven hundred million dollars—and was sentenced to five years in prison.[20][15]
Wiki
Eleven years of fighting and Russia still has not occupied all of Donbass.
I take it you are a follower of bidenomics.
IIRC, one may buy out by renouncing one’s citizenship.
The cost to renounce U.S. citizenship includes a non-refundable administrative fee of $2,350, charged by the U.S. Department of State for processing the renunciation at a U.S. embassy or consulate. A proposed reduction to $450 has not been implemented as of 2025. Additional costs may include:
•Exit Tax: For “covered expatriates” (those with a net worth over $2 million, average annual net income tax liability exceeding $206,000 for the past five years, or failure to certify tax compliance for five years), an exit tax applies. This tax treats worldwide assets as sold at fair market value the day before renunciation, with gains above $890,000 (for 2025) taxed at a long-term capital gains rate of 23.8%.
•Tax Compliance Costs: You must be tax compliant for the five years prior to renunciation, which may involve filing back taxes, Foreign Bank Account Reports (FBARs), and Form 8938 for foreign assets. Costs for tax preparation, penalties, or back taxes vary widely.
•Legal and Tax Advisor Fees: Consulting with tax professionals or immigration lawyers typically costs $2,000–$7,000.
•Travel and Documentation: Travel to a U.S. embassy or consulate and obtaining documents (e.g., birth certificates, foreign passports) may incur additional expenses.
Total costs depend on individual circumstances, particularly net worth and tax compliance status.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.