Fact Check: The U.S. Treasury just dropped a wild plan to slash the $33 trillion national debt: you can now pay it off with Venmo and PayPal

Fact-Check: "The U.S. Treasury just dropped a wild plan to slash the $33 trillion national debt: you can now pay it off with Venmo and PayPal"

What We Know

The claim that the U.S. Treasury is now accepting donations via Venmo and PayPal to help pay off the national debt is accurate. The program, officially known as "Gifts to Reduce the Public Debt," has been in place for decades, allowing individuals to contribute voluntarily to reduce the national debt. Recently, the Treasury Department added Venmo and PayPal as payment options, which became available between February 22 and March 8, 2025 (Austin American-Statesman).

As of July 2025, the national debt stands at approximately $36.7 trillion (Fox Business). Since the inception of the donation program in 1961, it has collected around $67.3 million, a figure that pales in comparison to the national debt (Newsweek). The donations are not tax-deductible as charitable contributions, but they may be deductible as gifts under certain conditions (Austin American-Statesman).

Analysis

The introduction of Venmo and PayPal as donation options is a notable update to a long-standing program. While the program itself is not new, the addition of these modern payment methods reflects an effort to make it easier for citizens to contribute. However, the overall impact of these donations on the national debt is minimal. For example, the total donations since 1961 amount to only about 20 minutes of the current national debt, highlighting the symbolic nature of this initiative (Fox Business, Axios).

The sources reporting on this development, including major outlets like Fox Business and Austin American-Statesman, are generally reliable, providing factual information backed by official data from the U.S. Treasury. However, it's important to note that while the program allows for contributions, the effectiveness and practicality of paying down a massive national debt through individual donations is highly questionable. Critics have pointed out the absurdity of the initiative, suggesting that it does little to address the underlying fiscal issues (Fox Business).

Conclusion

The claim that the U.S. Treasury has introduced the option to pay off the national debt using Venmo and PayPal is True. The program has been in place since 1961, and the recent addition of these payment methods is a legitimate update aimed at facilitating public contributions. However, the overall impact of such donations on the national debt remains minimal, serving more as a symbolic gesture than a practical solution to the country's fiscal challenges.

Sources

1. Yes, you can use Venmo or PayPal to help pay off $37 trillion ...
2. Americans can now donate to pay down national debt via Venmo ...
3. You can now Venmo the government to help pay off national debt
4. You can now Venmo the US Treasury to help pay down the ...
5. Want to Pay Down the U.S. Debt? Just Venmo It
6. US Treasury now accepts Venmo and PayPal donations to ... - MSN
7. You Can Venmo the US Government to Help Pay Down the National ...