War Bonds to Pay for Iraq and Afghanistan?

(National Archives)

Sen. Ben Nelson (D-Neb.) today introduced a bill to help finance the wars in Afghanistan and Iraq through war bonds.

"The legislation will authorize the Treasury to issue and market War Bonds to the American people," according to a Nelson press release.

"War bonds are a cost-effective way to reduce our dependence on foreign creditors and create an outlet for Americans to express their patriotism and support for our servicemembers and America's mission," Nelson said. "War bonds allow us to borrow from ourselves, rather than other countries."

"I believe that we need shared sacrifice and fiscal discipline in financing the war effort," he added. "I don't believe our first instinct should always be a rush to tax. The government has gone to great lengths to address the economic downturn and adding new taxes right now could undermine those efforts."

CBSNews.com Special Report: Afghanistan

Critics say that Nelson's characterization of the advantages of war bonds is misleading.

"The problem with this logic is that bonds -- even war bonds -- aren't free money," said Salon's Alex Koppelman. "At some point, those who invested expect to be paid back, and with interest. In order to accomplish that, the government has to use money it gets from...well, from tax dollars."

The "United States War Bonds Act of 2009" represents an alternative to the war tax proposal being pushed by Rep. David Obey, chairman of the House Appropriations Committee.

Nelson said the War Bonds Act follows the model of World War II savings bonds, which generated $54 billion between 1941 and 1945.

Last week, Sen. Joe Lieberman called war bonds "a great idea," as MSNBC notes, though he also said he was open to a war tax.

Americans can already buy Treasury bonds, which can be used to finance deficit spending.

More:

McChrystal Defends Afghan Plan to Congress
Obama's Line in the Afghan Sand
Taking The Measure of Stanley McChrystal

[sunnys123]

Really nice.
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<a href="http://www.bondsavings.info">Savings Bonds Rates</a>

[jdcuno]

How about using the left over TARP money to help pay for the war in Afganistan? Or would that make too much sense?

[8thDegree]

Calls

http://privateattorneygeneral.ning.com/page/calls-1

Dc Case update

http://privateattorneygeneral.ning.com/profiles/blogs/updates-on-dale-rodney-class

[8thDegree]

Latest Updates on top.
http://privateattorneygeneral.ning.com/profil...


Please Listen to the Calls.

http://privateattorneygeneral.ning.com/page/c...

[8thDegree]

Latest Updates on top.
http://privateattorneygeneral.ning.com/profil...


Please Listen to the Calls.

http://privateattorneygeneral.ning.com/page/c...

[8thDegree]

Well maybe thet should look a little closer under the war powers act.
Just on how they have been funding it to date.
listen to calls below.

My question how can they use war bonds to fund a war never declared ???

They where quick to say they could not control the price of oil because war was not declared.


Updates on Dale Rodney Class vs UNITED STATES


Dale Rodney Class vs UNITED STATES
Could Place All Federal Corporate Charters In Jeopardy Washington, D.C.

A potential landmark case was filed into the Superior Court of the District of Columbia, 500 Indiana Ave. NW, Room JM-170, Washington, DC 20001 on July 29, 2009.

The case seeks, among other multiple remedies, the nullification of all Federal Corporate Charters, &#38; is quietly gaining traction as the numerous named Defendants continue to default Court protocol &#38; procedure.

Remember the Superior Court of the District of Columbia may finally be the correct court in which to pursue the IRS in "tax court" ! The other Federal "tax courts" that have been previously used have been courts that "they" want us to use for some obvious reasons. They favor the government, but this case in this court names the agency &#38; its defendants in their "corporate" capacities &#38; the "20 day rule" applies for defaults!


Latest Updates on top.
http://privateattorneygeneral.ning.com/profil...

Please Listen to the Calls.

http://privateattorneygeneral.ning.com/page/c...

[gotoolyourself]

Here''s a little idea that might work. Shools have bake sales. Why doesn't the government do a reality show? Call it Lobbyist. Or how about Wall Street and the Cities??? Just get those cameras rolling and the money will flow because if there's one thing America loves it's FORNICATION!!!!!!!!!!!!!!

[egresor]

LOL

and what do we use to pay the interest and principle when due/

smoke and mirrors

you still have to pay for it!

[cbs_tom]

This should have started in 2003. Americans with the exception of the soldiers and their families have sacrificed very little for the war effort.