Can YOU solve the debt crisis?

The Indicator from Planet Money

NPR

Business

4.7 • 9.2K Ratings

🗓️ 18 May 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the background of the debt ceiling fight between Congress and the Biden administration, we peek inside a little-known program created for citizens who want to help pay off the national debt. This special fund has been collecting donations from civic-minded Americans since the 1960s.

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Transcript

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0:00.0	NPR.
0:07.0	This is the Indicated for Planet Money.
0:13.6	I'm Adrian Ma.
0:14.6	And I'm Whalen Wong.
0:16.0	We are in the midst of another debt ceiling crisis, and it's easy to feel helpless.
0:20.8	Like you're at the mercy of politicians who keep bickering and playing chicken while the
0:24.7	economy lurches toward potential catastrophe.
0:28.3	What are you thinking?
0:29.3	Is there anything I, a regular concerned citizen, can do about this?
0:34.0	Well, it turns out that over the years, regular concerned citizens have tried to pitch in
0:39.6	on the national debt.
0:41.2	They've done this by sending money to the government.
0:44.1	I was so stoked about this.
0:46.7	I thought this was the best idea ever, and that if everyone just gave a little bit, we
0:53.6	could just help this whole thing get paid off.
0:59.9	So who are these magnanimous, civic-minded Americans who are donating money to the federal
1:04.5	government?
1:05.5	Why do they do it?
1:06.7	And does it make any difference?
1:08.7	We'll find out after the break.
1:17.4	For almost as long as there's been a United States, there have been Americans who want
1:21.6	to give money to the federal government.
	...

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