Wars are expensive, and governments have always borrowed money to fight them. But it wasn't until the 20th century — the age of advertising — that governments started using war as a marketing tool to encourage citizens to buy government bonds.
To raise money for World War I, the U.S. government issued "Liberty Bonds," and launched an ad campaign full of dramatic, frightening posters.
For World War II, the government ditched the "liberty" euphemism and got straight to the point. It issued "war bonds," which were accompanied by a massive promotional campaign.
Ask the average person — even in Washington — who serves as President Obama's chief of staff and you'll probably get a blank stare.
Jack Lew hasn't been heard or seen in the "fiscal cliff" drama unfolding between the White House and Congress. But the former budget director, who took over the top White House job last January, has become a key player behind the scenes.
Originally published on Tue December 18, 2012 10:50 am
In the category of unintended consequences, Susan Rice's announcement about her future could — under one scenario — mean a Republican in President Obama's inner circle, decorated Vietnam veterans overseeing the nation's military and its foreign policy, and another special election for Senate in Massachusetts.
In a statement on Monday, the U.S. Treasury Department said it will launch an underwritten public offering to sell its remaining 234,169,156 common stock shares in insurer American International Group Inc., better known as AIG.
The U.S. government bought the controlling stake in the company as part of the $182 billion bank bailout in 2008. The sale would bring an end to the government's run as the company's largest shareholder, which represented a 16-percent ownership in the company.