Fox News and several other US media recently reported that the US government website has officially launched two online donation channels, calling on Americans to “make voluntary donations” to repay the huge national debt of 37 trillion US dollars. This move by the US government drew a lot of criticism. This project, called “Reducing Public Debt Donations,” began operation in 1996. Previously, the main donation method was bank transfer payment. However, the newly launched payment channel involves the online payment platform “PayPal” and its subsidiary “Wenmo.” Since 1996, the project has raised 67.3 million US dollars in donations, but compared to the current size of treasury bonds of over 37 trillion US dollars, this is only enough to pay the debt generated by the US in about 20 minutes. Meanwhile, US Treasury bonds are growing at a rate of $5.5 million per second. According to US media analysis, the effect of public donations in reducing US treasury bonds is almost negligible. According to estimates by the Peter George Peterson Foundation, every American must donate at least $100,000 to pay off this debt.

Fox News and several other US media recently reported that the US government website has officially launched two online donation channels, calling on Americans to “make voluntary donations” to repay the huge national debt of 37 trillion US dollars. This move by the US government drew a lot of criticism. This project, called “Reducing Public Debt Donations,” began operation in 1996. Previously, the main donation method was bank transfer payment. However, the newly launched payment channel involves the online payment platform “PayPal” and its subsidiary “Wenmo.” Since 1996, the project has raised 67.3 million US dollars in donations, but compared to the current size of treasury bonds of over 37 trillion US dollars, this is only enough to pay the debt generated by the US in about 20 minutes. Meanwhile, US Treasury bonds are growing at a rate of $5.5 million per second. According to US media analysis, the effect of public donations in reducing US treasury bonds is almost negligible. According to estimates by the Peter George Peterson Foundation, every American must donate at least $100,000 to pay off this debt.