Awesome new strategem to reduce US debt. . .

Discussion in 'Politics & Religion' started by TGregg, Nov 12, 2009.

  1. TGregg

    TGregg

    . . . no, not reduce spending (LOL), but beg for money! Isn't Hopenchange great?!

    WASHINGTON (Reuters) – Not sure what to give Uncle Sam this Christmas? How about a nice, fat check to help whittle away at the $7.6 trillion national debt?

    The U.S. Treasury Department accepts gifts, payable to the Bureau of the Public Debt. Just mail them to the attention of Department G, Post Office Box 2188, Parkersburg, West Virginia, 26106-2188. Make a note in the memo section that it is a gift to reduce the debt held by the public.

    Yes, really.

    It's all on the Treasury's website, at the end of the list of frequently asked questions.


    http://news.yahoo.com/s/nm/20091112/ts_nm/us_usa_economy_budget_gifts
     
  2. Ricter

    Ricter

    $7.6 trillion is about what, six months of gdp?
     
  3. Lucrum

    Lucrum

    I think it's nearly $12B.

    http://www.brillig.com/debt_clock/

    So more like 10 months of GDP.

    Although I can see some of the reasoning for looking at the debt to GDP ratio, to keep things in the proper context. Especially when comparing to other countries.

    I don't think in our current situation it makes it OK to continue spending like drunken sailors.
     
  4. Well lets not forget gdp reflects govt spending so it's portion cannot be counted.