Blogs home Linda's Backroad Musings
Uncle Sam Needs You
Economic news has become an obsession. I hang on the advice of "experts," while listening for stock market quotes and news of bailout legislation.
The stock market continues to fall with only modest rallies. It is too big for me to fully understand or do anything personally. Then I had an idea.
Savings bonds.
From a beginning as "baby bonds" during the depression, they grew up to become the popular war bonds during WWII. Savings bonds gave people with modest incomes the ability to help in the war effort while accumulating a modest savings.
What if each individual purchased a savings bond. They are available for as low as $25. How about a reduction in our taxes for the bonds we buy.
Series EE are easy to purchase at any financial institution or online. It is something we can do to help our country right now.
This is too simple-more than a little naÃive. On the other hand:
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7 October 2008
at 8:26 a.m.
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justbegintowrite (Ronda Miller) says…
Linda, maybe naive, but it is a starting point. At a beginning price of $25, they certainly would be affordable for most people. It sounds like a terrific idea for Christmas gifts this year.
Glad to see you are back!
7 October 2008
at 6:58 p.m.
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fandango12 (Anonymous) says…
One set of grandparents gave my kids savings bonds from the time they were born until they were in their late teens. They went untouched until… well, until I was out of a job and was divorced and had no money to help them when they began their lives in their early twenties. The bonds came in handy when my daughter's car died and when my son had his truck bashed in. But I say, however one decides to save just do that. Save.
7 October 2008
at 8:47 p.m.
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femail (Linda Hanney) says…
Ronda & fandango—Maybe I am a little “old school” but I have purchased bonds through payroll deduction for years. Perhaps a carryover from my parents who considered it patriotic to purchase war bonds even after the war was over. And, as you say, fandango, they are handy when something unexpected comes along.
7 October 2008
at 8:56 p.m.
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commuter (Anonymous) says…
A good idea but I bet too many people here is Lawrence would buy bonds. I think they are expecting the government to take care of them for life.
7 October 2008
at 11:09 p.m.
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liggyon (David Lignell) says…
Linda,
Not “naive” at all, not even a little bit. Don't let any of the recent Wall street savants or local Lawrence advice coaches tell you otherwise. Bonds may not be a high return, but they're as solid as gold in this *&^%$ economy. So build your little piggy bank house of brick, and don't you ever let the big bad wolf of populist opinion down your chimney. BTY, it's refreshing to see your post. Please post more often. I'm sure the readers would appreciate it. Dave
7 October 2008
at 11:46 p.m.
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notajayhawk (Anonymous) says…
And as a bonus, each bond you purchase adds to the national debt.
8 October 2008
at 6:46 a.m.
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femail (Linda Hanney) says…
notajayhawk—the way I look at it, until the government pays it back, each bond is a low (very low) interest loan to the government to help with the national debt. Most people who purchase bonds let the government use their money for years. Sure beats paying taxes.