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Family fighting to save "The Savings bond Program"
The deadline for the Marketing Departments Savings Bond Program is
quickly approaching.. Only 94 days are left!
( EMAILWIRE.COM, June 26, 2003 ) As a mother you can understand when
your daughter asks you to work on a project that she believes can help people,
you try to make her dreams come true. Three weeks after 9/11 my daughter wanted
to help people ,so I showed her the picture of my mother 58 years ago promoting
War bonds on the front cover of Popular Photography, July issue 1944. Her eyes
brightened and she said, " Mommy that is what I am going to do.". On
December 11,2001, the U.S. Treasury issued the New War bonds called the Patriot
Bonds. Anastasia is one month and one day different in age than my mother was on
the cover. We realized that history was going to repeat in our family and God
gave my daughters birthday to us for a reason. We never imagined that it would
be such a struggle and cost as much money. We have spent over $12,000 to date
and I am presently working three jobs to help fund this project. We even offered
our image to the U.S. Treasury for free and they declined our offer. They were
not going to promote The Patriot Bonds. I thought this was a bit strange... what
a better time than now to educate people about the savings bond program!
Starting Oct 1, 2003 there will no longer be a marketing department for the
savings bond program. You can see the enclosed letter from the U.S. Treasury
that it states, they will only be promoting the savings bond program primarily
through their web site. When selling a product you have to educate new customers
to go to the web site if you want to sell your item. They also stated that they
will no longer be promoting the savings bond through Public Service
advertisements and volunteer committees, both of these are FREE. The current
Treasury cost model shows that for every $1 billion borrowed throughout Series
EE ( Patriot Bonds) and Series I saving Bonds, $17 million is saved in
comparison to costs associated with marketable securities. President Bush is
asking congress to approve an $80 billion dollar proposal to support the War
Against Terror, and if we did, it should be the common American investing in The
Savings Bond program, thus saving the Americans $1,204,000,000.00.
Congressman Istook of Oklahoma, the chairman of the Treasury appropriations
committee has stated , "The Saving bond program is old fashioned and out of
date." Before 9/11, patriotism was old fashioned and out of date. I believe
it is time to educate Americans' about investing in America. The Government
needs to borrow money the most cost effective way and that is through the
Savings Bond program. Mr. Istook writes that " Savings bonds accounted for
26% of the Public debt immediately following WW II." That percentage
gradually fell to around eight percent two decades ago and has continued its
downward trend to just three percent today." I believe without the
marketing department the percent will drop even more.
I have come across Americans that have told me their financial advisors have
told them in past years to sell their Saving Bonds and invest the money in the
stock market. You can make higher interest. One woman did just that and lost all
of her money in the stock market. Yes, the interest on saving bonds is not high
but it is secure.
By eliminating a national volunteer network and committee that aids immeasurably
in the promotion of savings bonds as a patriotic program that contributes to the
nation's financial security, the marketing of the bonds is not possible.
Is the U.S. Treasury going to stop my six year old daughter from showing her
patriotism through the savings bond program, if so they will take her patriotism
and all of Americas' patriotism away.
Six year old Anastasia and her family ( The Freedom Girls) are asking for your
help to tell our story in support of the savings bond program and to continue to
support our troops and country. You can contact us at www.usfreedombonds.com
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