U.S. Treasury accepts gifts via Pay.gov, Venmo amid $38T

How to donate: Pay.gov, Venmo, PayPal, Gifts to Reduce the Public Debt

The U.S. Treasury accepts voluntary contributions through its long-running Gifts to Reduce the Public Debt program. According to Business Insider, Treasury added Venmo and PayPal as payment options within Pay.gov alongside existing methods.

As reported by the Houston Chronicle, the program is authorized by 31 U.S.C. § 3113 and has operated since 1961, permitting individuals and organizations to contribute funds specifically to reduce the public debt.

Donations are processed via Pay.gov using the available payment methods, including card, bank transfer, and the Venmo and PayPal integrations noted above. Public materials reviewed do not detail limits, fees, or processing times for each method.

What donations actually do against $38T debt: scale and impact

Total gifts received since 1996 are about $67.3 million, as reported by Fox Business. That sum is orders of magnitude smaller than today’s federal debt, so the direct fiscal effect of donations is minimal.

In practice, contributions are applied to reduce the outstanding public debt but do not materially change borrowing needs or interest costs at current scales. The program functions more as a formal channel for symbolic support than a tool that shifts federal balance-sheet dynamics.

Some macro strategists emphasize deficits and long-term debt dynamics over small-scale gifts. “Debt death spiral” is how Ray Dalio, founder of Bridgewater Associates, has warned the trajectory could unfold without reducing deficits toward roughly 3% of GDP, according to CNBC.

At the time of this writing, Bitcoin  BTC +0.00% traded near $69,120 with very high volatility and a bearish reading, a reminder that broader market conditions can shift quickly even as donations’ arithmetic remains unchanged.

Legitimacy, oversight, and expert views on Treasury debt-donation program

Is it legal, where funds go, tax-deductible status

Federal law authorizes Treasury to accept contributions earmarked to reduce the public debt, and funds received under the program are applied for that stated purpose. Public reporting reviewed here does not specify tax-deductible treatment, and formal guidance was not cited in the materials summarized.

GAO and Peter G. Peterson Foundation on sustainability

According to the Government Accountability Office, rising federal debt can raise borrowing costs for households and businesses, reduce disposable income, and weigh on long-run growth through higher interest burdens.

As stated by the Peter G. Peterson Foundation, the national debt has surpassed $38 trillion, and growing interest payments risk crowding out priorities such as education, infrastructure, and research. The figures underscore that sustainability hinges on fiscal policy choices rather than voluntary gifts.