LJWorld.com weblogs Linda's Backroad Musings

Uncle Sam Needs You

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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.http://worldonline.media.clients.ellingtoncms.com/img/blogs/entry_img/2008/Oct/07/haveandholdflagwarbondsposter_sm.jpgFrom 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:

Comments

fandango12 6 years, 11 months ago

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.

Stephen Roberts 6 years, 11 months ago

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.

David Lignell 6 years, 11 months ago

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

notajayhawk 6 years, 11 months ago

And as a bonus, each bond you purchase adds to the national debt.

Linda Hanney 6 years, 11 months ago

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.

Ronda Miller 6 years, 11 months ago

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!

Linda Hanney 6 years, 11 months ago

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.

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