Tuesday, December 29, 2009

Help Solve The Federal Debt - Timothy Geithner Has It Licked

Good news, the U.S. Treasury has figured out how to solve the problem of runaway deficits (and thus runaway debt and ultimately currency collapse). On the Treasury Direct website, under the FAQ section, you'll find the below gem within the Financing the Debt subheading:
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
We're sure that P.O. Box is an extra large, to handle the volume of inbound mail.

Another gem from the same Financing the Debt subheading is this question:
Why does the debt sometimes decrease?
The Public Debt Outstanding decreases when there are more redemptions of Treasury securities than there are issues.
What we appreciate most about this is that it's so shocking that the U.S. debt might actually decline that it demands a frequently asked question to reassure people that, no, the debt is not actually declining. It's simply a timing issue on when the Treasury issues and redeems notes.

Phew! Glad we don't have to worry about the debt actually decreasing.