Basics of Treasury Bonds & Securities Explained
Between the various bailouts, rescues, and spending packages, the United States Treasury has been working overtime issuing debt. If you’re like me, you’re probably wondering how this is even possible and how the government goes about doing it. During the First World War and World War Two, we went through a similar period where the government needed to borrow a lot of money to help fund the war effort. That gave rise to the patriotic posters that called for ordinary Americans to buy war bonds to support our soldiers fighting the enemy on foreign soil. That same mechanism, public debt, is what we use today to help fund many of our programs. This makes it a prime topic for the third installment of the Foundation Series.
Treasury Securities & Programs
U.S. Financial Crisis: American Recovery and Reinvestment Act of 2009
In 48 hours we will be delivering to the conferees a list of everyone who has emailed their Members of Congress in support of the Pickens Plan elements of H.R. 1. So it's important you email your Members of Congress today!
The United States is in the midst of a serious financial crisis. You can read full text of the American Recovery and Reinvestment Act of 2009 on the Thomas web site from the Library of Congress.
This Act lays out a new plan to address the crisis and is currently being debated in the U.S. Congress
It was passed by the House of Representatives on January 28, 2009, and by the Senate on February 10, 2009.
Before it can be presented to the President to sign into law, a conference committee (composed of members of Congress) needs to resolve the differences between the House of Representatives and Senate versions of the Act.
The Act proposes unemployment and welfare expansion, tax cuts, and investment in infrastructure, healthcare, education, and energy.
Some of the goals of the Act are to:
Create 3 to 4 million jobs over the next two years.
Computerize every citizen's medical records in five years.
Double renewable energy generating capacity over three years.
Provide healthcare coverage for nearly 8.5 million Americans.
Enhance the security of 90 major ports.
Increase food stamp benefits for over 30 million Americans.
If the Act is passed, citizens will have the ability to see how the funds are spent at Recovery.Gov