No, the government should not pay national debt. Here’s a better use for your money
Splitting the National Debt Bill with Uncle Sam is unrealistic and a waste of your hard-earned cash.
Do you know of annoying friends who are always bound by cash whenever the bill comes? Yes, Uncle Sam is that friend. And he wants to know if you can get him some money.
With a strange twist on the US government’s balloon deficit crisis, the Treasury is now accepting “donations” through the digital payment app Venmo to “reduce public debt.” $36 trillion. Needless to say, the case All Americans Injected (including children), we must pay more than $100,000 each to zero that balance – and the debt will soon start to grow again.
News went viral after NPR’s Jack Corbett I posted about it on xThere is a public response Less than positive.
“What is the real dystopian hell scenery?” said Tiktok user @Millennial.mia.
Many critics point out that the government has already cut your income significantly taxAnd now the administration is looking for more.
However, Venmo is Gifts to reduce public debt A program that has existed since 1996. Previously, you could only send money to Uncle Sam via Bank Account (ACH) Transfer, debit or credit card or PayPal.
In a besieged economy High price, Layoff And other factors beyond your control, improving the financial security of your home, is a much smarter way to pay your hard-earned cash. Below are four alternative ways to put your money for better use.
Emergency funds will be built
Emergency funds are financial lifelines in the event of sudden medical expenses, unemployment, or other significant costs. Experts recommend it It costs three to six months, but at least two in five Americans have no emergency funds saved at all.
Anything you can clean up It helps – especially if you put money in High-yield savings account A place where you can grow faster.
💸 Donate to your own debt
High-profit obligations, such as credit card or personal loan obligations, can damage your finances for years. Throw everything you can Towards your outstanding balance. If you are contributing to paying back citizen debt, you will rarely drop the bucket just in time, but focusing yourself can significantly improve your financial situation.
Contribute to hsa or FSA
Millions of Americans You could lose Medicaid Under President Donald Trump’s “One Big Beautiful Bill,” it is expected to increase national debt by $3.4 trillion between now and 2034. Congressional Budget Bureau. Medical debt is the main cause of bankruptcy in the US.
By putting money into Health Savings Account or Flexible spending accountsyou can make it easier to pay your medical bills while enjoying tax benefits. This is something you can’t get from just giving money to the government.
Donate to charity charity
If you’re used to your current financial situation and want to help others with extra cash, consider donating to a charity where your money can actually make a difference. Charity Navigator and Charity Watch It can help you find a reputable organization that matches the cause of your passion.