Wednesday, May 26, 2010

You Can Eliminate the Public Debt of the United States

The people of the United States are responsible for the public debt of the nation.

iON suggests that each of us help out the country by writing a check to eliminate our public debt and describes how to accomplish this process.

The Secretary of the Treasury already has statutory authority to receive gifts for the reduction of the public debt. There is a Treasury account called “Gifts for Reduction of the Public Debt.” Established by Public Law 87-58 in 1961, it provides a way for individuals to make voluntary donations for debt reduction. Bureau of the Public Debt, US Department of the Treasury

To provide the people of the United States with an opportunity to make gifts to the United States Government to be used to reduce the public debt—the Secretary of the Treasury may accept for the Government a gift of money made only on the condition that it be used to reduce the public debt. Source: Cornell University Law School

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