It has been a tough week for the Americans.
Firstly we had the Bin Laden misinformation and now an obscure social networking site is worth more than Facebook. In January I argued Facebook was worth 300bn (fintag) and looking at the renren IPO, I may have underestimated the valuation.
Of course if Facebook was worth a few trillion, wouldn't it be nice if the stock holders used some of their capital gain to help pay the US debt off? It is quite easy to do.
Here is an extract from the US treasury website:
How do you make a contribution to reduce the debt?
There are two ways for you to make a contribution to reduce the debt:
You can make a contribution online either by credit card, checking or savings account at Pay.gov
You can write a check payable to the Bureau of the Public Debt, and in the memo section, notate that it's 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
Gordan Ramsey (or maybe not) gags his employees with bread (telegraph)
renren IPO (bloomberg)
How do I know if I send a check to Dept G that it will actually be used to pay of the US debt? Will I get a certificate?