💸 Venmo the National Debt? Yup, That’s Now a Thing (Even for Connecticut Residents)

Neil Caron
Aug 6
2 min read

August 6, 2025 | Mortgage & Money Matters | Presented by ReadySetLoan™

If you’re a Connecticut taxpayer wondering where your money’s going—or why the U.S. debt keeps ballooning—here’s a new one: You can now Venmo the federal government to help pay it off.

Seriously.

The U.S. Treasury has officially enabled Venmo and PayPal as payment options for its long-running “Gifts to Reduce the Public Debt” program. That means Nutmeggers with a smartphone and a little extra cash can donate directly to Uncle Sam’s $36.7 trillion debt—right from their phone.

But should you?

CT Homeowners: Here’s What You Need to Know

While the program has been around since the 1960s, this digital facelift is brand new. Through Pay.gov, Connecticut residents can now contribute up to $999,999.99 using modern apps like Venmo or PayPal. But here’s the kicker:

All-time total donations = $67 million
Current national debt = $36.7 trillion
Translation: Your donation is more symbolic than substantial

For Connecticut residents facing rising property taxes, student loans, or planning for homeownership, this might feel more like a novelty than a necessity.

Why Now?

Recent legislation like the so-called Big Beautiful Bill is projected to add an extra $3.4 trillion to the federal deficit. Even economic giants like Ray Dalio, a Greenwich-based hedge fund founder, have warned of looming economic challenges without serious fiscal changes.

As for public reaction? Let’s just say Connecticut taxpayers aren’t alone in scratching their heads:

“Pay taxes, then donate more? Is this a joke?”– CT Reddit thread, probably

🐷 RSL Piggy Points™ (Connecticut Edition)

Yes, you can Venmo the government now
No, it’s not tax-deductible
It won’t solve Connecticut’s high cost of living
Real impact? Probably starts with investing in your own financial future

🎙 Neil’s Take

“Whether you live in Stamford, Hartford, or Mystic, your best investment isn’t a donation to the U.S. Treasury—it’s your own home. Focus on building equity in Connecticut’s real estate market instead of throwing your extra dollars into a national void.”

— Neil Caron, Area Sales Manager, CMG Mortgage

Want to Boost the Economy? Start at Home—Right Here in Connecticut

At ReadySetLoan, we help Connecticut buyers and homeowners make smart financial moves—from first homes to refis to real estate investing. If you’re wondering where your dollars will make the most difference, it's likely not a Venmo donation to the federal government.

📍 Live in Connecticut? Let’s talk about how you can invest in your own future.

📲 Visit ReadySetLoan and get expert, local guidance today.