Paying off the debt

I want to remind everyone that when filing your federal tax returns the IRS welcomes donations to the national debt in addition to any taxes you may owe the IRS:

How Do You Make a Gift To Reduce Debt Held By the Public? If you wish to do so, make a check payable to “Bureau of the Public Debt.” You can send it to: Bureau of the Public Debt, Department G, P.O. Box 2188, Parkersburg, WV 26106-2188. Or you can enclose the check with your income tax return when you file. Do not add your gift to any tax you may owe. See page 65 for details on how to pay any tax you owe. You may be able to deduct this gift on your 2009 tax return.

The Bureau of Public Debt lists the total public debt outstanding as of 2/12/09 at $10,759,196,587,563.44 ($10.7 trillion) and it invites donations to pay down the national debt:

How do you make a contribution to reduce the debt? Make your check payable to the Bureau of the Public Debt, and in the memo section, notate that it is a Gift to reduce the Debt Held by the Public. Mail your check to: Attn Dept G,
Bureau Of the Public Debt, P. O. Box 2188, Parkersburg, WV 26106-2188

According to the IRS Fall 2008 Statistics there were 138.4 million income tax returns filed by individuals in 2006. At that rate the burden per individual taxpayer is over $70 thousand - but this will rise from spending passed in the recent stimulus packages.

China alone is owed almost $700 billion. Although the US budgeted $415 million in foreign aid to Egypt in 2008 the US also owes Egypt over $15 billion. The GDP of the total US economy measured at $14.2 trillion in 2008. No citizen can truly make an impact given the scope of the debt (Bill Gates and Warren Buffett topped $50 billion in last year's Richest Americans list by Forbes - before the stock market crashed). Is the invitation to taxpayers to send in checks included on IRS tax publications anything more than a sick joke?

Surprise! Millions are donated every year to the national debt! Just goes to show one should never doubt the IRS.