I know you've seen all those ads for companies that promise to reduce your credit card debt, taxes, etc., but it seems they usually fall victim to criminal investigation and YOU are still in debt. Well, I have a sure-fire way to get out of debt. Stop buying things you can't afford and start saving. Yes, it is painful, but something most of our parents managed to do throughout their lifetimes.
Even if you think you don't have any debt, you may be surprised to find that thanks to the Federal Government, you are the left holding the bag when they borrow money by selling bonds and Treasury bills. Yep, we are ALL in debt without buying a single thing. It's called "debt held by the public."
Now the government wants us to help pay off that debt by gifting them with:
1. an outstanding government obligation.
3. property that can be sold and funds put toward the debt
First, Obama wants your wedding gifts. Now his pals want your savings bonds. Never fear, I have a plan.
There are anywhere from 140-200 billion pennies in circulation. I propose we send all out pennies (and aren't they a nuisance anyway?) to the Bureau of the Public Debt. So if we give them back all those pennies, we could have almost paid off the debt in 2010, a mere 2 billion. Unfortunately, someone has been spending with abandon the last two years, so we will have a throw in some other coinage to cover the additional 4 BILLION.
You can go online and donate, but where's the fun in that? Just dig into the couch cushions, your junk drawer and rummage through your car. I tell you, coins are just breeding in those locations. A quick check of your bureau and desk drawers and the bottom of your briefcase or purse and you should be primed for debt reduction. Put all the coins in a padded envelope or box and mail them to:
Attention Department G
Bureau of the Public Debt
P O Box 2188
Parkersburg , WV 26106-2188