…and then there’s Ben Nelson.
Yes, Ben Nelson the senator from someplace called “Nebraska” (ha ha – that’s a good one! *Snicker* ) has formally introduced legislation to finance the wars through selling War Bonds.
I believe that we need shared sacrifice and fiscal discipline in financing the war effort. I don’t believe our first instinct should always be a rush to tax. The government has gone to great lengths to address the economic downturn and adding new taxes right now could undermine those efforts.
OK, Ben Nelson of “Nebraska” here’s the dealio about bonds: they have to be paid back, with interest, by the Federal government; bonds are essentially debt. And guess how the government gets the money to pay the bonds back? Taxes.
MPS salutes you, Ben Nelson of “Nebraska” for introducing legislation for the US Government to take on $30 Billion dollars in new debt! You are a credit to your profession.