Clinton: $5,000 for Every U.S. Baby

[Snooperz]

WASHINGTON (AP) - Democratic presidential candidate Hillary Rodham Clinton said Friday that every child born in the United States should get a $5,000 "baby bond" from the government to help pay for future costs of college or buying a home.

Clinton, her party's front-runner in the 2008 race, made the suggestion during a forum hosted by the Congressional Black Caucus.

"I like the idea of giving every baby born in America a $5,000 account that will grow over time, so that when that young person turns 18 if they have finished high school they will be able to access it to go to college or maybe they will be able to make that downpayment on their first home," she said.

The New York senator did not offer any estimate of the total cost of such a program or how she would pay for it. Approximately 4 million babies are born each year in the United States.

Clinton said such an account program would help Americans get back to the tradition of savings that she remembers as a child, and has become harder to accomplish in the face of rising college and housing costs.

She argued that wealthy people "get to have all kinds of tax incentives to save, but most people can't afford to do that."

The proposal was met with enthusiastic applause at an event aimed to encourage young people to excel and engage in politics.

"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?"

Britain launched a similar program in January 2005, handing out vouchers worth hundreds of dollars each to parents with children born after Sept. 1, 2002.

Earlier this month, Time magazine proposed a $5,000 baby bond program.

I heard about this a few days ago and all I really have to say on the matter is: Wow.

[jim]

In Aus , we get $4,133 Per baby born.

[THE 49er]

Clinton is teh win! I never vote but I will for her.

[Spyder]

I like her and I think she'd do a fine job at President - but sometimes she says things that are kinda off the wall - so I duno. If Ron Paul wins the Republican nomination I'm voting for him no matter who the Democrats put up.

20,000,000,000 a year is a lot of money when we already have a HUGE debt that has just about doubled since Bush took office. The Democrats also want to create a national healthcare - I'd like to know where all this extra cash is coming from, because all I'm seeing is the national debt skyrocket as the dollar's value plummets. If this kinda shit goes through - we are SCREWED. If our government got their shit together and didn't have an addiction to spending (and I knew that they weren't going to spend all of the funds "promised" to new born babies until they're 18 - which they will at this time) I'd think it was a good idea. I also wouldn't mind a national healthcare if our government wasn't the way it is (currently it can't support veteran healthcare and welfare healthcare!) but Ron Paul is completely right at this time - we can't support any of this.


Besides, illegal immigration would have to be fixed first. Lots of Hispanics come up here and have their baby so that kid will get free healthcare, schooling, etc...giving them $5k on top of it is going to break the back of this issue. $5,000 is like waving golden nuggets in front of every Mexican's face down there - there will be even more people trying to get up here.


If you want an example of politicians saying everything/anything to swoon voters into voting for them - the Democrats is tops. They all know this kinda stuff would not be passed in Congress and even if it did - it would NEVER work with the way our government is currently functioning. Just like Bush promised all kinds of things to help us Americans - they just don't fulfill what they say they will do. History only remembers who was elected, not what promises they did not keep.

[DarkSpoon]

nuke the govt imo.