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War Bonds in the Second World War: A Model for a New Iraq/Afghanistan War Bond?

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The high costs of fighting the wars in Iraq and Afghanistan have rekindled congressional interest in the concept of the sale of a Treasury security to help finance these war costs. In the 111th Congress, three bills have been introduced that would permit the issuance of a war bond: S. 2846, H.R. 4315, and H.R. 4385. Although these bills are silent on any relationship between the proposed “war bonds” and World War II-era war bonds, the question has been raised whether or not the issuance of war bonds during the Second World War serves as a good model for a new “war bond.” During the Second World.