Hillary's 5000 baby bond plan.

[RetiredGySgt]

This is from a news clip on Fox, not sure how to link to it.

Hillary Clinton has proposed that all babies born after she creates this fund be given 5000 dollar bond that matures at 18. No strings attached. Current estimated cost... 20 Billion dollars.

To be fair the program is light on what she ACTUALLY said, no quotes, no film of her SAYING it. One of the people on the program notes he is not sure how serious she was and that it could have just been a comment she was not wed to.

Bad idea indeed. By the way the plan is for ALL babies, irregardless of family or income.

If anyone has something to link for this please do so. I found it by first looking at the meat recall and clicking on one of the videos on the side from there I saw it on the fox news portion of videos.

 

[Annie]

Here's the AP story:

http://hosted.ap.org/dynamic/stories/C/CLINTON_BABY_BONDS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT

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

By DEVLIN BARRETT
Associated Press Writer


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....

4x5000=$20milliion

 

[RetiredGySgt]

Here's the AP story:

http://hosted.ap.org/dynamic/stories/C/CLINTON_BABY_BONDS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT



4x5000=$20milliion

Try 4million times 5thousand, you end up with 20 billion. That is 9 zeros tacked on to a 20. That is EVERY year.

Ohh and thanks for the link.

 

[BaronVonBigmeat]

I wonder how much less people would be able to save, when their taxes (or inflation) went up due to this idea.

 

[ScreamingEagle]

I wonder how much less people would be able to save, when their taxes (or inflation) went up due to this idea.

Not to mention that as federal aid increases, college costs go up as well.

Railing against federal financial aid for higher education, a conservative critic said Monday the "education subsidy" has driven up the cost of higher education and artificially increased demand for college degrees.

"College enrollment over the last 20 years has gone dramatically up because of [federal] subsidies," Tim Carney, a columnist for the Washington Examiner, told the conservative Young America's Foundation conference in Washington, D.C.

Carney said colleges have grown accustomed to receiving federal dollars, which he said enables schools to continually raise prices without hurting students' ability to pay.

http://www.cnsnews.com/ViewNation.asp?Page=/Nation/archive/200707/NAT20070731c.html

I think this baby bond plan spotlights the "cradle to grave" socialism that Hillary wants to impose upon America.

 

[Gem]

I think the $20 billion dollar number is ludicrously "light."

Who is going to organize this $5,000 per baby program? Who is going to keep all the information organized, send out the bonds, keep track of making sure they get to all the newborns in time with instructions for mom and dad on what exactly to do with a bond? Who is going to watch the bonds to make sure no one is fraudulently trying to remove bonds to early...who is going to answer all the questions parents and their children have about their bonds throughout the course of those 18 years?

Obviously, we are going to need another government agency (or at the very minimum, another office in an already bloated agency) to plan and carryout this wonderful idea of providing for our nations young. That agency is, of course, going to require a staff that will require salaries, benefits, and (since they will be state workers) retirement plans.


$20 billion??? Are they kidding???