Americans Donate $8 Million To Pay Off National Debt (only $16 trillion to go)

Not too long ago when my kids were small, I remember one of them begging my wife and I to buy a brand new, expensive sports car. It was something like $50,000. He asked us if we’d buy it if he chipped in all the money in his piggy bank. I think he had all of three dollars. That tale came to mind after reading a story today by CNNMoney about paying off the national debt.

This year Americans have pitched in nearly eight million dollars of their own money to help reduce the nation’s more than 16 trillion dollar debt. I had to read that twice before my chuckle became an all-out laugh. Sure it’s commendable what those donors did, but talk about a drop in the proverbial bucket. If my fuzzy math is correct, that’s only about 0.0000005% of our country’s total outstanding debt!  Still it’s a big jump in donations for the national debt. They had averaged about three million dollars a year since 2009. The CNNMoney story goes on to say:

The country’s total outstanding debt is … perilously close to the $16.394 trillion debt ceiling, and the Treasury Department expects to hit the legal borrowing limit by the end of the year.

The ongoing national debate about how to get America’s debt under control has certainly heightened the public’s awareness of the matter.

If you’re feeling charitable, you can donate to pay.gov … or just put an extra check in your federal income tax return. Or you could just break open your piggy bank, chip in a few bucks and help me buy that brand new, expensive sports car my kids have always wanted me to drive. I thank you in advance.

“Americans donate $8 million to cut national debt”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: