The US Treasury Department is now accepting Venmo and PayPal payments from those who want to donate money to reduce the nation\u2019s ballooning $36.7 trillion debt.<\/p>\n
The digital payment platforms can be used after accessing the \u201cGifts to Reduce the Public Debt\u201d page on Pay.gov, NPR\u2019s Jack Corbett noted. <\/a><\/p>\n The expansion of payment options comes amid growing public concern<\/a> over the debt, which has surged from $19.59 trillion in 2010 to its current level, an increase of 87%, according to the Treasury Department.<\/p>\n The donation program has existed since 1996, with a total of $67.3 million contributed \u2014 an amount that remains negligible compared to the federal debt.<\/p>\n The federal government has given Americans the option of using Venmo and PayPal to help pay down the national debt. pay.gov<\/p>\n Critics have questioned the value of individual donations toward the national debt.<\/p>\n Samson Mow, CEO of Bitcoin technology firm JAN3, compared the effort<\/a> to \u201csending Bitcoin to a burn address.\u201d <\/p>\n President Donald Trump\u2019s recently enacted \u201cBig, Beautiful Bill\u201d is projected to add an additional $3.4 trillion<\/a> to the debt over the next decade, according to the non-partisan Congressional Budget Office.<\/p>\n The legislation prompted a public dispute between Trump and Tesla CEO Elon Musk, who criticized the bill for raising the debt <\/a>ceiling by $5 trillion.<\/p>\n Despite the Treasury\u2019s new push for public donations, the scale of the debt continues to raise questions about the sustainability of US fiscal policy and the effectiveness of such symbolic gestures.<\/p>\n The national debt has ballooned to a record $36.7 trillion as of Friday, according to the Treasury Department. FiscalData.Treasury.gov<\/p>\n Meanwhile, Bridgewater Associates founder Ray Dalio is sounding the alarm, warning that the country is at growing risk<\/a> of a fiscal crisis unless urgent policy changes are made.<\/p>\n