On the eve of the U.S. Senate and House of Representatives forging a compromise on the $789 billion economic-stimulus package, Asheville Mayor Terry Bellamy appealed to the Asheville public to engage in another kind of financial stimulus: buying U.S. Savings Bonds.
Bellamy’s pitch came during Asheville City Council’s Tuesday meeting, but earlier that day, she distributed an e-mail urging Asheville residents to invest in the bonds.
“I’ve started a campaign,” she told Council. “Looking at how we dealt with times of need after World War I, World War II and 9/11 — our country bought bonds.”
After the meeting, Bellamy told Xpress that she began researching the idea after hearing anxieties from the community about the long-term effects of the stimulus plan.
“I kept hearing concerns about how much we are spending and borrowing against our future,” she said. She is touting the bonds as a way to invest in the country while realizing a return on that investment down the road.
Expect to hear more on the issue: Bellamy said she plans to push the campaign beyond her Council chamber announcement, and hopes that the movement will build momentum in Asheville, then move into the national conciousness.
The full text of Bellamy’s announcement is below.
— Brian Postelle, staff writer
Mayor Terry Bellamy
February 10, 2009
We’ve all asked ourselves lately “What can we do to help in these hard economic times”?
And it seems we’re getting back to basics, realizing what’s important; family, saving money, living within our means, community and pulling together as a nation to make it through these tough times.
Mayor Terry Bellamy is starting a campaign in Asheville that she hopes will spread across the country to help support our nation and our cities. Best of all it is a way to investment in our children’s future while investing in our nation. Just as she has done, Mayor Bellamy is encouraging all of us to buy U.S. Savings Bonds.
Our grandparents bought bonds to support our country in tough times, now we have the opportunity to pull together and help our nation by buying U.S. Savings Bonds. Imagine, if every family bought one bond for their children’s future what that could mean for our nation. If half of the U.S. 112 million families bought one $50 U.S. Savings Bond for $25, it could add up to 140 billion dollars invested into our nation.
Join Mayor Bellamy and re-invest in America and our children!
Let’s Take Back America – U.S. Savings Bonds for Country and Our Children’s Future
EE Bonds are reliable, low-risk government-backed savings products that you can use toward financing education, supplemental retirement income, birthday and graduation gifts, and other special events.