Podcast Summary: The Government Is Now Accepting Your Venmo Donations

Podcast: George Kamel • Host: Ramsey Network
Date: September 22, 2025

Overview

In this episode, George Kamel delivers a scathing and humorous breakdown of the latest Treasury Department move: accepting Venmo and PayPal donations to reduce the US national debt. He explains the origins of this program, explores whether individual donations can actually make a difference, discusses who really benefits, and ultimately steers listeners back to smart, actionable personal finance. With his signature wit, George takes aim at the absurdity of asking ordinary Americans to Venmo the government, while offering practical advice for where your money is truly best spent.

Key Discussion Points & Insights

1. What’s Changed: Venmo & PayPal as Payment Options ([00:05]–[02:00])

• Main Point: The US Treasury now allows Americans to send donations toward the national debt via Venmo and PayPal.
• Background: The "Gifts to Reduce the Public Debt" program has existed since 1996, but the new twist is incorporating modern digital payment apps.
• Tone: Satirical, poking fun at the government's attempt to "crowdfund" debt reduction.
• Quote:

  “You can now Venmo the government to help pay down the national debt. Which reminds me of Kennedy's famous words, ask not what your country can do for you, ask what you can, Venmo, for your country.” — George Kamel [00:08]

2. Explaining the National Debt & Deficit ([02:01]–[04:30])

• National Debt Defined: Total amount owed by the US, at $37.2 trillion and climbing.
• Who the US Owes: About 25% to foreign countries; the rest mainly to US-based institutions and individuals holding Treasury bonds.
• Distinguishing Debt & Deficit:

  “The deficit is how much we're adding to our debt each year...we are running annual deficits over $1 trillion.” — George Kamel [03:40]

• Perspective: US government spends more annually than many countries’ entire economies.

3. The Effectiveness (or Futility) of Donations ([04:31]–[08:30])

• Donations to Date: Since inception, the program has raised around $67 million—barely a blip against the mammoth debt.
• Satirical Analogies:

  "The government making you pay taxes and then asking you to voluntarily donate more money is like someone punching you in the face and then turning around an iPad to ask for a tip." — George Kamel [05:40]

• Real Math:
  • To clear the debt, every American would need to donate $113,000.
  • If all 330 million Americans donated $10, it would fund just over 4 hours of government spending.
• Memorable Moment:

  “Even at scale, it's a teeny tiny drop in a bucket that is the size of your mom. You know what I told myself? I'm done with these jokes. They're juvenile. Unlike your mom. Dang it. Did it again.” — George Kamel [06:45]

4. Who Really Benefits from This System? ([11:17]–[12:25])

• It’s Not You or the Debt: Donations barely register, not meaningfully reducing the burden.
• Real Winner: Venmo/PayPal and their data brokers — not taxpayers, not the country.
• Behind the Scenes:

  “They are putting themselves between US citizens and the government, collecting transaction fees and data. How convenient. And in case you were wondering, yes, they do have lobbyists. PayPal spent over $1.6 million on lobbying in 2024 alone.” — George Kamel [12:10]

5. Where Your Money Should Go ([12:26]–[15:20])

• Practical Advice:
  • Don’t waste money donating to the national debt.
  • Pay down your own debts first.
  • Give to charities with tangible impact if you’re in a position to be generous.
  • Invest for your own future, and focus on things you can control.
• Memorable Quote:

  “It’s not your job to pay for the poor financial decisions of your lawmakers...Focus on what you can control, which is your house and your money.” — George Kamel [14:40]

• Reference: Invokes Stephen Covey’s “circle of influence” concept to frame financial priorities.

6. Policy and Personal Impact ([15:21]–End)

• Legislative Impact:
  • Upcoming and recent bills directly affect listeners' finances (taxes, health costs, investment accounts).
  • Encourages viewers to pay attention, be informed, and vote accordingly.
• Final Call to Action:
  • Don’t expect change from tip jar Venmo donations.
  • Take control of your own financial destiny through wise personal choices.
  • Stay informed on policy changes that actually impact day-to-day financial reality.

Notable Quotes Summary

| Timestamp | Quote | Speaker | |-------------|------------------------------------------------------------------------------------------------------|---------------| | 00:08 | “Ask not what your country can do for you, ask what you can, Venmo, for your country.” | George Kamel | | 05:40 | “...like someone punching you in the face and then turning around an iPad to ask for a tip.” | George Kamel | | 06:45 | “Even at scale, it's a teeny tiny drop in a bucket that is the size of your mom.” | George Kamel | | 12:10 | “...they do have lobbyists. PayPal spent over $1.6 million on lobbying in 2024 alone.” | George Kamel | | 14:40 | “It’s not your job to pay for the poor financial decisions of your lawmakers...” | George Kamel |

Timestamps for Key Segments

• 00:05: Introduction & Venmo announcement
• 02:01: What is the national debt?
• 03:40: Debt vs deficit explained
• 05:40: Why these donations don’t help
• 06:45: Satirical calculation of necessary donations
• 11:17: Who’s really benefiting
• 12:26: Financial advice—focus on what you can control
• 14:40: Closing thoughts & actionable steps

Conclusion

George Kamel’s episode skillfully blends comedy, economics, and personal finance wisdom to highlight the absurdity of sending Venmo payments to the US Treasury. Instead of playing into “debt donation” schemes, listeners are urged to focus on paying down their own debts, supporting effective charities, and influencing government policy through informed voting—not tip jars. The answer to national debt woes won’t be found in micro-transactions but in responsible fiscal policy and solid personal money management.