Wednesday, November 23, 2011

Funny Moments in America Bonds

I love the fascinating bits of lore you come across on the internet, so I'm sharing this one.
Faced with the dilemma of financing WWII President Franklin D. Roosevelt received adamant advice to raise taxes and introduce a forced savings program. Instead, FDR wisely followed the advice of Secretary of the Treasury Henry Morgentthau, JR., who working with Peter Odegard, a political scientist specialized in motivating masses (read propaganda) created the War Advertising Council.
The result was a whopping $187.5 Billion ($2.5+ Trillion dollars adjusted for inflation into 2009 dollars) to fund the war effort. Just as important as the money, the War Bonds became a rallying cry for the public to express its patriotism, follow its iconic leaders' calls for action, and allowed for 85 million Americans to actively participate in the War effort.
The threat to our country in 2009 is greater than in early 1940. Not only is our economic survival threatened, but, our survival as a species on this planet teeters on a dangerous fulcrum. ...
A current day version of FDR's War Bonds, the FundAmerica plan as proposed by the Prosperity Mandate provides a new source of $2.5 Trillion and:
  • Is Budget Neutral
  • Does NOT Raise Taxes
  • Requires No More Debt
  • Is Sustainable and Renewable...

When you're done laughing, answer this question: Would you take whatever money you had and buy the equivalent of a war bond? I might...

...if FDR was president and the US didn't have a $15 trillion debt.

1 comment:

Anonymous said...

I had a similar experience once.

I was sitting in a diner somewhere in stupid America far from home and some guys were sitting in the booth next to mine, talking about the national debt. At that point, it was about 3 trillion, I guess.

One guy says "I know how to fix it." His buddies inquired how. "We have a national lottery!! Sell $10 tickets and if everyone buys one, then we'll get it paid off in one shot!!"

I didn't have the nerve to turn around and pipe in that it would take $10,000 from every man, woman and child in the country, not $10.