This story notes that Sen. Hillary Clinton "did not estimate" the total cost of her proposal to give every child born in the United States a $5,000 bond. The math isn't that hard: $5,000 times 4 million babies = $20 billion a year plus the usual billions for administrative costs. I love this logic:
"I think it's a wonderful idea," said Rep. Stephanie Stubbs Jones, an Ohio Democrat who attended the event and has already endorsed Clinton. "Every child born in the United States today owes $27,000 on the national debt, why not let them come get $5,000 to grow until their 18?"
Cite the national debt in support of program that will add to it. Wonderful. Memo to The Associated Press: "unil their 18"? Jeez.
Comments
And yet, still considerably cheaper than the $2 to $3 billion per week War (without end) in Iraq. And, with some luck, that $5k would go toward buying some of the stuff that is already paid for by the government. And, think of all the commissions to be earned by Wall Street firms who would be investing that money. (Which is, I think where Ms. Clinton is truly buying votes).
Doug.....apples and oranges....
We know, you're against the war. We got it. Since it has absolutely nothing to do with SChIPS or health insurance, or 5k for babies savings accounts would you just stop harping about it already?
It would be immensely more helpful if instead of a 5k baby bond, we get rid of all the unfair trade agreements and reverse the supply side economics in favor of making sure the middle class stays healthy and their wages stop stagnating and jobs stay home.
But as it is every child owes $27,000 to the government to pay for the huge federal deficits - deficits that are bigger than all the previous presidents combined.
A sort of birth tax if you will