The US has launched a fundraising campaign to repay its $38.7 trillion national debt: what is known
16 February 11:38
The US Department of the Treasury has opened up the possibility of voluntary contributions to repay the national debt, which exceeded $38.7 trillion at the beginning of 2026. Both US citizens and foreigners can make contributions through the official government platform Pay.gov, according to "Komersant Ukrainian".
This mechanism allows anyone to voluntarily transfer funds to the federal budget to reduce the country’s debt burden.
What does the new US debt repayment mechanism mean?
The launch of voluntary contributions is not a new tool, but the introduction of the Pay.gov digital platform has greatly simplified the process.
Funds transferred through this service are deposited into a special account of the US Department of the Treasury and are used to:
- reducing public debt;
- funding federal programs;
- stabilizing public finances;
- supporting the country’s economic system.
Voluntary contributions are not a tax and are made solely at the discretion of the payer.
Why US public debt has reached a record $38.7 trillion
The US national debt rose from $34 trillion in January 2024 to $36 trillion in November of the same year, and is now increasing by $1 trillion approximately every five months — twice as fast as the average rate over the past 25 years.
The acceleration was due to massive borrowing during the pandemic to stabilize the economy, as well as new spending approved after the passage of the spending and tax cut bill in early 2025. This bill will add $4.1 trillion to the debt over the next decade.
U.S. public debt has grown in recent years due to several key factors:
- spending to support the economy during crises;
- defense and security funding;
- social programs;
- infrastructure investments;
- servicing previous debts.
The US has the world’s largest economy, so significant public debt does not automatically mean a financial crisis, but reducing it remains a strategic goal.
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Who can make contributions
The Pay.gov platform allows contributions to be made by:
- US citizens;
- foreign citizens;
- businesses and companies;
- charitable organizations;
- any individuals or legal entities.
Contributions can be of any size and are not subject to restrictions.
Why the US launched a voluntary collection
The main purpose of launching such a mechanism is to
- to attract additional financial resources;
- to increase financial transparency;
- to reduce the debt burden;
- developing digital financial instruments.
What this means for the global economy
US public debt is a key element of the global financial system, as US bonds are considered one of the most reliable assets in the world.
The launch of voluntary contributions demonstrates the US’s commitment to ensuring maximum transparency in the financial system and attracting additional sources of funding.
The Pay.gov platform allows contributions to be made from any country, underscoring the global nature of the US financial system.
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