If everyone in the US could just cut a $54,662.38 check or charge their credit card, we could stop the debating, and applaud Uncle Sam for figuring out an easy solution to a complex problem.
Spring Lake, New Jersey (PRWEB) December 18, 2012
As the fiscal cliff deadline quickly approaches, it seems as though Americans are bombarded with politicians and experts, all weighing in on this highly complex, fiercely debated, issue. Yet, many may find it very surprising and somewhat humorous that Uncle Sam may have already figured out a very simple solution that in all likelihood is being overlooked by the powers in charge.
The US Treasury’s website includes a link titled, “How to make a contribution to reduce the Public Debt.” One may initially snicker at the arrogance of the government’s request. However, after further thought, if a solution exists to help pay down the massive $17 trillion deficit, it is worth looking into.
Could it be that the answer lies on a simple white US Treasury website page, via a basic contribution box? There are no jazzy sales pictures or pitches. All one needs to do is just enter the amount of money they want to donate, their contact information, form of payment, and hit the send button. Bingo, the deficit is immediately reduced with the touch of a finger and of course, a credit card (or checking or savings account), via Pay.gov.
In 1961, Congress established a debt-reduction fund in order to accept a $20-million donation left in a will to the federal government by Susan Vaughan Clayton, a wealthy Texan. The fund is now managed by the Bureau of Public Debt, a division of the Treasury Department.
"My mind started to race," according to SavingsBonds.com marketing director, Jackie Brahney. She added, "What would it actually take if everyone in the US could write a check to help solve this problem? It was reminiscent of NBC Newsman Brian Williams reporting from the phone banks during the 12-12-12, Sandy benefit concert. He indicated that 2 billion people around the world were watching the concert. If everyone gave just $1, it would raise $2 billion. Even I, not being a financial genius, understood the math. "
Given an estimated 311 million people in the US with an approximate $17 trillion deficit, there weren’t enough zeros on the I Phone calculator screen. The old Texas Instrument calculator, used for those math classes that can make one's head spin was nowhere to be found. Finally, Siri, the reliable go-to I Phone source indicated that 17 trillion divided by 311 million equals 54,662.38.
So there you have it. If everyone in the US could just cut a $54,662.38 check or charge their credit card that amount of money right now, perhaps the excessive debating would drastically diminish, and Americans might find themselves applauding Uncle Sam for figuring out an easy solution to our country's fiscal problem. While that though may seem appealing, it is also very unrealistic. However, the message here might be the old adage that my father taught me, “If you don’t ask, you won’t get.”
SavingsBonds.com is a consumer friendly site offering a free savings bond calculator with a complimentary, personalized, color-coded, Savings Bond Inventory Report and unique reports and services that help bond owners avoid losing money and maximize their investment. The site also offers the most extensive savings bond information center with a non-governmental perspective. Current series EE and I bond rates, lost bond services and re-issue services, links to purchase savings bonds online and popular government forms are also available.
About SavingsBonds.com VIP Membership:
SavingsBonds.com VIP Members receive bi-monthly emailed Alerts! which provide updated cash in values, interest rates and earnings, strategies about current and upcoming financial events, including maturity and taxation issues. The Cash In Report ranks bonds in performance order to eliminate guesswork on which bonds should be cashed in and which ones to hold. Members have 24/7 access to a personalized Bond Inventory Report indicating current bond values, interest rates, timing, taxation and maturity issues, displayed on an easy to understand, color-coded, bond-by-bond report. Optional Bond Tips, along with discounts on lost bond and re-issue services are included. The pro-active, investor friendly service helps avoid possible forfeiture of interest, double taxation and IRS situations, helps investors maximize their savings bond investment and avoid losing money.