Bonds and Development
Charlie McGill
Mr. Roddy
GPHC
4/15/2020
When the Florentine government invented the bond in the 14th century, it not only changed finance and government spending forever, but it had a profound effect on their development and the development of future countries. Immediately, Florence was able to better fund its war, and when it was in two wars simultaneously in the 16th century, bonds allowed Florence to remain in both. Historically, according to The Ascent of Money, bonds have been repeatedly used to fund wars since they require massive amounts of government spending. Here in the United States, our recent wars have been money-pits with no real purpose, facts that are supported by interviews with government officials and military leaders. I say, why don't we end the longest war in American history (Afghanistan) and put those funds towards programs to help Americans? Why don't we sell bonds to fund government programs, not just wars?
During wartime, the government advertises their bonds and advocates for their citizens to buy them, making massive short-term revenues and paying interest over time. However, I never see advertisements for government bonds simply to raise money for public spending! This is preposterous to me; if the United States were to raise taxes (or tax, at the very least) on multinational corporations and the wealthy, along with selling bonds, they could generate massive revenues to fund awesome public programs, even those like Medicare for All and the Green New Deal that cost trillions of dollars yearly. According to various economic analyses from Universities and think tanks, projects like Medicare for All would put more money into the hands of the worker, create jobs, and overall contribute to economic growth. With this growth, the government could pay interest on their bonds and even afford to sell more! Bonds have paid for the biggest public spending projects since their creation: wars. I see no reason why they can't fund domestic programs! With wealth inequality rising, tens of thousands dying from a lack of healthcare every year, and the environment slowly dying, it's time to reroute bond money from endless war towards American prosperity.
Mr. Roddy
GPHC
4/15/2020
How Bonds Can Contribute to Economic Development Today
During wartime, the government advertises their bonds and advocates for their citizens to buy them, making massive short-term revenues and paying interest over time. However, I never see advertisements for government bonds simply to raise money for public spending! This is preposterous to me; if the United States were to raise taxes (or tax, at the very least) on multinational corporations and the wealthy, along with selling bonds, they could generate massive revenues to fund awesome public programs, even those like Medicare for All and the Green New Deal that cost trillions of dollars yearly. According to various economic analyses from Universities and think tanks, projects like Medicare for All would put more money into the hands of the worker, create jobs, and overall contribute to economic growth. With this growth, the government could pay interest on their bonds and even afford to sell more! Bonds have paid for the biggest public spending projects since their creation: wars. I see no reason why they can't fund domestic programs! With wealth inequality rising, tens of thousands dying from a lack of healthcare every year, and the environment slowly dying, it's time to reroute bond money from endless war towards American prosperity.
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