Recent News and Opinion
2014/8/20 - Neighborhood Gets Help from LISD and Police on Litter, Crime Problem
2014/8/20 - Letters: Freed Should Be Considered Innocent
2014/8/17 - Sunday Evening Update - End of Summer Vacation Edition
2014/8/17 - Pictures of Local High Water
2014/8/17 - Lewisville to Spray for Mosquitoes Monday and Tuesday
2014/8/16 - Flower Mound Presbyterian Church Celebrates 160 Years with Homecoming
2014/8/8 - Former Fire Official Arrested in Fill-the-boot Theft
2014/8/6 - Lewisville Lake and Drought Update
2014/8/5 - Saturday, August 9th: Lewisville Police Day - PD Hosts Anniversar...
2014/8/5 - Kidnapping Suspects Arrested; Police Dog Finds Fugitive
2014/8/2 - Movie review: "Boyhood"
2014/7/22 - Lewisville Loses Appeal on Sex Offender Ordinance
2014/7/20 - Monday Morning Update
2014/7/20 - Take the Win in Iran
2014/7/19 - Combating Post-Traumatic Stress Event in Denton Saturday
2014/7/14 - Lewisville City Council Adopts Vision 2025 Plan
2014/7/6 - Photos from Lake Park on Independence Day
2014/7/6 - Updated: Council to Consider School Zones for LHS Campuses on Main...
2014/7/6 - Sunday Morning Update - Independence Day Weekend Edition
2014/7/5 - Local Groups Organizing Toiletry Drive for Unaccompanied Minor Imm...
2014/7/3 - Area Independence Day Celebrations and Fireworks
2014/6/30 - Movie Review: Transformers: Age of Extinction
2014/6/29 - Sunday Afternoon Update - Half-Way Through 2014 Edition
2014/6/25 - Updated: DCTA A-Train Tracks Damaged by Floods, Repaired Already
2014/6/24 - Police Arrest Serial Robber
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Michael Burgess Thinks War Bonds are Free Money

The Nimrods Never Cease to Amaze Me
Posted by WhosPlayin on 2011/3/2 21:30:00 (2246 reads)

Open in new windowOpen in new windowU.S. Representative Michael Burgess (R, Lewisville) introduced a bill yesterday (H.R. 852) to allow the sale of War Bonds to finance military operations in Iraq, Afghanistan, and other places.

Burgess was quoted in Air Force Times about the bill:

War bonds, which pay interest, would be a way to show support for troops while also paying for conflicts without having to raise taxes or add to the national debt, said Rep. Michael Burgess, R-Texas, who introduced the United States War Bonds Act of 2011 on Tuesday.


So, let me take a moment to explain to Michael Burgess what a bond means. A bond is a debt instrument. When you sell a bond, you are borrowing money that you have to pay back with tax dollars. Therefore, selling war bonds or treasury bonds or any other bond DOES add to the national debt, and it does require repayment from taxes. If you need additional tutorial about how your government borrows money, I recommend this short article from the Association of Young Americans.

If you want to earmark some bonds specifically for war, as a marketing tool for Fox News viewers who would rather buy gold at hyper-inflated prices than invest in treasury bonds, bills and notes, then by all means, lets sell the same debt instrument with a different name stamped on it.

Open in new windowBut lets be honest with the citizens about what it is. War is expensive, and the price must be paid back by the citizens. The best fiscally responsible policy is to avoid rushing into foolish wars of choice like Iraq. And the best way to keep our children from paying for these wars decades from now is to collect the appropriate amount of tax from those citizens who can most afford it. But hey, that takes courage and sacrifice today. That's too risky for today's something-for-nothing Republican politicians. They'd rather tell you what they think you want to hear than what you need to hear.

Keywords
- Michael Burgess

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Other articles
2014/8/20 23:50:00 - Neighborhood Gets Help from LISD and Police on Litter, Crime Problem
2014/8/20 8:52:32 - Letters: Freed Should Be Considered Innocent
2014/8/17 19:00:00 - Sunday Evening Update - End of Summer Vacation Edition
2014/8/17 11:40:00 - Pictures of Local High Water
2014/8/17 9:10:00 - Lewisville to Spray for Mosquitoes Monday and Tuesday
2014/8/16 22:37:04 - Flower Mound Presbyterian Church Celebrates 160 Years with Homecoming
2014/8/8 11:40:00 - Former Fire Official Arrested in Fill-the-boot Theft
2014/8/6 11:00:03 - Lewisville Lake and Drought Update
2014/8/5 22:25:46 - Saturday, August 9th: Lewisville Police Day - PD Hosts Anniversary Celebration and Open House
2014/8/5 21:35:02 - Kidnapping Suspects Arrested; Police Dog Finds Fugitive


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