Soaring US National Debt Surges by an Additional $734.6 Billion in a Single Month, with the Government Initiating the Collection of Venmo and PayPal Contributions to Alleviate Debt Burden
The U.S. Treasury Department has expanded its "Gifts to Reduce the Public Debt" program to accept donations via PayPal and Venmo, in addition to traditional bank account and credit/debit card donation options. This move, announced in July 2025, aims to modernize payment options and broaden public participation [1][3][4].
Since the program's inception in 1933, it has collected a modest sum of approximately $67.3 million in donations, a figure that pales in comparison to the current national debt, which stands at around $36.7 trillion as of mid-2025 [1][2][3][5]. The introduction of Venmo and PayPal is seen as a symbolic gesture rather than a structural solution to the debt [1][5].
To make a donation, individuals can visit Pay.gov, select "Gifts to Reduce the Public Debt," and choose their preferred payment method. However, the scale of the U.S. national debt, which increases by hundreds of billions monthly, makes voluntary donations a negligible factor in overall debt reduction [2][5]. For instance, to offset current debt growth, each U.S. citizen would need to donate about $100,000 [5].
Recent reports indicate that the One Big Beautiful Bill Act, passed by the Trump administration, is expected to add more than $3 trillion to the national debt over the next decade [2][6]. This figure is under dispute by the Trump administration, who have challenged the estimate by the Congressional Budget Office [7].
Meanwhile, the digital payment options on pay.gov have garnered attention, having been flagged on the social media platform X by NPR host Jack Corbett [3]. The expansion of payment options comes as global liquidity surges to $127,300,000,000,000, potentially driving the price of Bitcoin up to $127,300, according to CoinShares [8].
The Daily Hodl, a leading source for news, Bitcoin, Ethereum, Altcoins, Financeflux, Trading, NFTs, Blockchain, Futuremash, Regulators, Scams, Hacks & Breaches, and HODLX, covers these developments and more. Stay informed and join our community on Telegram, X, and Facebook.
References:
- U.S. Government Now Accepts Digital Donations to Reduce National Debt
- One Big Beautiful Bill Act Expected to Add $3 Trillion to National Debt
- NPR Host Jack Corbett Highlights New Payment Options on Pay.gov
- Pay.gov Now Accepts PayPal and Venmo for Donations to Reduce National Debt
- The Symbolic Nature of U.S. Government's 'Gifts to Reduce the Public Debt' Program
- Trump Administration Disputes $3 Trillion Estimate on National Debt by One Big Beautiful Bill Act
- CBO Estimate of $3 Trillion Addition to National Debt by One Big Beautiful Bill Act Challenged by Trump Administration
- Global Liquidity Surge and Potential Bitcoin Price Increase
- The expansion of payment options on Pay.gov to include Venmo and PayPal has attracted attention from sources like X, where NPR host Jack Corbett highlighted the new feature.
- Meanwhile, the surge in global liquidity to $127,300,000,000,000, according to CoinShares, could potentially drive the price of Bitcoin up to $127,300.
- Despite the introduction of digital payment options for donations, the U.S. Government's "Gifts to Reduce the Public Debt" program is seen more as a symbolic gesture rather than a structural solution, given the sheer scale of the national debt.
- The One Big Beautiful Bill Act, passed by the Trump administration, is expected to add more than $3 trillion to the national debt over the next decade, a figure under dispute by the Trump administration, who have challenged the estimate by the Congressional Budget Office.
- For those interested in cryptocurrency and finance, The Daily Hodl serves as a comprehensive source for news on Bitcoin, Ethereum, Altcoins, and more, providing updates on regulation, scams, hacks, and breaches, among other topics. Stay informed and join their community on Telegram, X, and Facebook.
