Word: bondses
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War bonds?
With George W. Bush making it all but official - "we?re at war" - Republican senators Mitch McConnell and Conrad Burns introduced legislation Friday to direct the Department of the Treasury to issue War Bonds for the first time since WWII. Paul O?Neill would set the terms - U.S. citizens would...
"War" bonds or not, this is government debt - the same thing both parties were railing against just a week ago. And while neither Democrat nor Republican will be uttering the words "lock box" for a very long time, this is also the return of the kind of sleight-of-hand...
Some of these shifts in what during budget debates are known as "spending priorities" will eventually have to be zero-sum games; the political desire for a balanced budget is real, and it has real economic benefits to America in terms of the bond markets and long-term interest rates...
The American boom of the last ten years - a boom that is now very likely to be ended by the economic shock of Tuesday?s horror - was partly built on a worldwide perception of the U.S. as a "safe haven." Its stocks were perennially headed up. Its consumers perennially spent...