Meek Introduces War Bonds Act of 2009
Congressional Desk
December 22, 2009
United States War Bonds Act of 2009 Authorizes Treasury Secretary to Issue War Bonds
Meek: We Need to Promote Shared Sacrifice and Responsibility Along with our Military Families
WASHINGTON, DC – In an effort to promote national shared sacrifice and responsibility, U.S. Representative Kendrick B. Meek introduced the United States War Bonds Act of 2009 to authorize the Treasury Secretary to issue and sell war bonds to the American people to fund the Wars in Afghanistan and Iraq.
"At a time of tremendous sacrifice for our military families, we need to promote shared sacrifice and shoulder collective responsibility as a nation as we fight two wars halfway across the globe," said Meek. "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 as well as the security mission for which they are deployed."
"To be sure, thousands of Americans have made tremendous sacrifices over the course of this war. Members of the military, their families and their friends have gone above and beyond the call of duty, and we must never take their service for granted. Many of us have begun shopping for this holiday season, while a relatively small group of families are preparing to send their loved ones off to battle. The War Bonds Act of 2009 will allow Americans to show their support for the troops even if they are wary about the war itself."
"War bonds allow us to borrow from ourselves, rather than from other countries. The legislation I am introducing today will allow American citizens to do our part without being required to do so through taxation."
The companion legislation to Rep. Meek´s bill was introduced by Senator Ben Nelson (D-NE) in the United States Senate.
Rep. Meek believes strongly in winding down our engagement in Iraq in a responsible and measured manner, while at the same time putting our military on a course for success in Afghanistan that was missing for many years. The United States War Bonds Act of 2009 creates a cost-effective system for responsibly and collectively funding the Wars in Afghanistan and Iraq, while also giving our men and women in uniform the full backing they deserve in terms of financing and resources. The legislation comes on the heels of estimates that the cost of supporting an American soldier in Afghanistan, including housing, food, equipment, training, and transportation, approaches $1 million per year.
The United States last issued war bonds during World War II. These debt securities financed overseas military operations and provided the American people an outlet on the home front for supporting our servicemen and women. President Franklin D. Roosevelt bought the first Series ´E´ U.S. Savings Bond from Treasury Secretary Henry Morgenthau in May 1941.
US Savings bonds are considered some of the safest investments in the world and backed by the full faith and credit of the US government. The bonds are available in predetermined denominations and mature over a period of time with accruing interest. After a number of years the owner of the bond can collect the face value of the bond plus interest.
Meek: We Need to Promote Shared Sacrifice and Responsibility Along with our Military Families
WASHINGTON, DC – In an effort to promote national shared sacrifice and responsibility, U.S. Representative Kendrick B. Meek introduced the United States War Bonds Act of 2009 to authorize the Treasury Secretary to issue and sell war bonds to the American people to fund the Wars in Afghanistan and Iraq.
"At a time of tremendous sacrifice for our military families, we need to promote shared sacrifice and shoulder collective responsibility as a nation as we fight two wars halfway across the globe," said Meek. "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 as well as the security mission for which they are deployed."
"To be sure, thousands of Americans have made tremendous sacrifices over the course of this war. Members of the military, their families and their friends have gone above and beyond the call of duty, and we must never take their service for granted. Many of us have begun shopping for this holiday season, while a relatively small group of families are preparing to send their loved ones off to battle. The War Bonds Act of 2009 will allow Americans to show their support for the troops even if they are wary about the war itself."
"War bonds allow us to borrow from ourselves, rather than from other countries. The legislation I am introducing today will allow American citizens to do our part without being required to do so through taxation."
The companion legislation to Rep. Meek´s bill was introduced by Senator Ben Nelson (D-NE) in the United States Senate.
Rep. Meek believes strongly in winding down our engagement in Iraq in a responsible and measured manner, while at the same time putting our military on a course for success in Afghanistan that was missing for many years. The United States War Bonds Act of 2009 creates a cost-effective system for responsibly and collectively funding the Wars in Afghanistan and Iraq, while also giving our men and women in uniform the full backing they deserve in terms of financing and resources. The legislation comes on the heels of estimates that the cost of supporting an American soldier in Afghanistan, including housing, food, equipment, training, and transportation, approaches $1 million per year.
The United States last issued war bonds during World War II. These debt securities financed overseas military operations and provided the American people an outlet on the home front for supporting our servicemen and women. President Franklin D. Roosevelt bought the first Series ´E´ U.S. Savings Bond from Treasury Secretary Henry Morgenthau in May 1941.
US Savings bonds are considered some of the safest investments in the world and backed by the full faith and credit of the US government. The bonds are available in predetermined denominations and mature over a period of time with accruing interest. After a number of years the owner of the bond can collect the face value of the bond plus interest.
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