Americans Donate Insanely Low Sum to Cut National Debt

24/7 Wall St.

The Bureau of the Public Debt reported that Americans made total contributions of $7.7 million in 2012 to the U.S. government to reduce debt held by the public. The same organization put the amount of public debt at $11.4 trillion. Intergovenment debt holdings are $4.8 trillion, which brings the entire total to $16.2 trillion. For some inexplicable reason, the Bureau of the Public Debt is impressed that contributions rose from $3.3 million in 2011, which shows how crazy the Treasury can be.

The Treasury would be better off to hide the data, or not report it at all, if possible. The fact that donations are in the low millions and that debt is well into the trillions demonstrates how little sacrifice Americans are willing to make by any direct contribution to a problem often described as the worst the United States has.

Although there is no direct correlation between…

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