US Treasury Accepts Donations to Help Pay $39 Trillion National Debt

The Trump Treasury Department is accepting donations from Americans to help reduce the US national debt, which has reached $39 trillion according to the department’s official website. This comes as interest payments on federal borrowing have surpassed spending on Medicare and the defense budget.

The national debt has grown dramatically over recent decades. Approximately four decades ago, the national debt stood near $907 billion. According to a 2023 Pew Research Center survey, 57% of Americans identified cutting the budget deficit as a top priority for the president and Congress, up from 45% the previous year.

Spending Drives Debt Growth

The nonpartisan Congressional Budget Office (CBO) stated that the “One Big Beautiful Bill Act” will add $3.4 trillion to deficits over the next ten years. The CBO projects the national debt will surge to $54 trillion over the next decade. The Trump administration has stated that tariff revenue and faster economic growth will help cover costs, though the CBO’s latest projections point to a significantly larger federal burden.

Credit Ratings Downgraded

Multiple major credit rating agencies have downgraded the United States’ credit standing. Fitch Ratings cut the US long-term credit grade from AAA to AA+ in mid-2023, citing weaker public finances, heavier borrowing loads, and ongoing political gridlock. Moody’s Ratings followed in May, downgrading the US from Aaa to Aa1 on its 21-level scale. Moody’s stated that interest costs could rise from 9% of federal revenue to 30% by 2035. In a statement, Moody’s wrote: “Successive U.S. administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs.”

Historical Spending Comparison

Both recent administrations have significantly increased the national debt. During Trump’s first term, the national debt grew by approximately $7.5 trillion over four years, partly due to COVID-19 relief spending. By September 2022, less than two years into his term, President Biden had approved approximately $4.8 trillion in borrowing, according to the Committee for a Responsible Federal Budget. This included $1.85 trillion for the American Rescue Plan COVID relief law and $370 billion for the bipartisan infrastructure package.

The fiscal year 2020 deficit reached $3.1 trillion, the largest annual shortfall in US history. Fiscal year 2021 recorded the second-largest deficit at $2.7 trillion. Biden’s administration pointed to a $1.7 trillion reduction in the deficit during his term, though much of this decrease resulted from the conclusion of emergency COVID programs.

Long-Term Projections

The CBO’s 2025 long-term budget outlook projects federal interest spending will increase from approximately 3.1% of gross domestic product in fiscal year 2024 to approximately 5.3% of GDP by 2054.