Thinking about Memorial Day also got me thinking about the important role that everyday people like you and I can have by buying government bonds, especially during times of national struggle. That said, I logged into my TreasuryDirect account and noticed that as of May 1, 2009, all Series I savings bonds are earning zero interest.

It doesn't matter when the bond was purchased--if you own a Series I savings bond (I'm currently holding $8,041.54 worth of them myself), it is not earning any interest right now. This is because the negative semiannual inflation rate (currently -2.78%) wipes out the fixed rate completely.

By the way, while I haven't been updating the blog as frequently as I used to, I have been posting videos on my YouTube channel, in case anyone is interested in watching and/or subscribing. In today's video, I mention that taxes would need to be raised by 80% (a scary thought!) to cover the magnitude of deficit spending for fiscal year 2009, and discuss how a nonchalant attitude towards the future financeability of our national debt compromises our financial freedom.

Sources:

U.S. Office of Management and Budget - Fiscal Year 2010 Federal Budget (PDF)
(Page 119, FY09: $2.186 trillion total receipts versus $1.752 trillion deficit)