Tags: Citizens | Donate | Cut | Federal | Debt

Many Conscientious Citizens Donate to Cut Federal Debt

By Dan Weil   |   Monday, 27 Sep 2010 09:04 AM

While politicians on both side of the aisle talk about slashing the $13 trillion national debt, ordinary Americans are doing something about it.

They’re donating money to the Treasury to put a little dent in the debt mountain, The New York Times reports.

Last year, the Bureau of the Public Debt registered $3.1 million in gifts, more than normal since the government began accepting such donations in 1961.

While those contributions represent a drop in the bucket compared to the debt total, they amount to a heck of a lot more than what officials in Washington has contributed – a plume of hot air.

Recent donors include a class of sixth graders in Alabama who sold cookies to raise $324.50, a Maryland man who found out about the program in an after-work accounting class and Findlay, Ohio’s Margaret Taylor, who died in 2006 at the age of 98 and donated $1.1 million in her will, The Times reports.

Teri Gisi, a teacher at the sixth graders’ school, says the Great Recession inspired her kids. “We’ve had some students who didn’t even have new shoes for the start of school,” she told The Times.

The nation’s second richest citizen, Warren Buffett, is willing to donate in another way – by paying higher taxes.

“The way the tax system has gotten tilted toward guys like me over the last 20 years, as opposed to the middle class, is a little obscene,” he told CNBC.

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While politicians on both side of the aisle talk about slashing the $13 trillion national debt, ordinary Americans are doing something about it. They re donating money to the Treasury to put a little dent in the debt mountain, The New York Times reports. Last year, the...
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