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Suncoast Pasco News

Bonds Needed For Recovery

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FROM A READER

Published: January 31, 2009

Editor:

I have an idea regarding the economic recovery. We need to create two committees, an Emergency Economic Committee and an Economic Promotion Committee. Their purpose would be enabling all Americans to participate in funding the enormous cost of our country's economic recovery program and save money for their own personal use.

They would do so by re-establishing a savings bond program. In 1941 President Franklin Roosevelt purchased the first U.S. War Bond. In response, 85 millions Americans, many with annual incomes of from $500 to $2,000, purchased $185.7 billion of these bonds. The bonds helped pay for World War II.

If my suggestion were accepted – I have sent it to President Barack Obama, other government leaders and journalists – the result would be half our population could raise as much as $2 trillion over a two-year period. It would also eliminate all the controversy over bailouts and keep much of the national debt in the hands of the American people.

Arne A. Gustafson
Hudson

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