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Hillary Clinton's idea: $5000 to newborn babies

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ShaneGR Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:09 PM
Original message
Hillary Clinton's idea: $5000 to newborn babies
Basically the idea would be to give every newborn American $5000 in the form of a savings bond that gains interest over time and becomes available at 18. The fund could be used at the age of 18, if you complete high school, for college, home, and I would guess maybe starting a business or whatever. The cost, approximately 2 billion dollars per year. The cost might seem high, except we're spending that in military deployments every 3 days. I like the idea.

Here's a link about it:

http://politicalticker.blogs.cnn.com/

NOTE: I'm an Edwards supporter, just thought the idea was good.
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orpupilofnature57 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:11 PM
Response to Original message
1. Thats investing in Futures.
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Mythsaje Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:12 PM
Response to Original message
2. It's actually a very good idea...
It gives every child a better chance to succeed. It could be abused, of course, but anything can be.
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reggie the dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:12 PM
Response to Original message
3. would that be for
all American newborns or just those living in the USA?
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ShaneGR Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:20 PM
Response to Reply #3
10. I believe it would be for babies actually born in the US
Could be a side issue with people coming here just to have a baby and make it a citizen. I could see a provision that the parents must be US citizens or in the process of gaining citizenship.
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reggie the dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 04:00 PM
Response to Reply #10
24. well
If babies born overseas to American parents do not get this money then it would not be a program for all citizens. It is a great idea, but it hints that this money should be used to pay for tuition at a university. I would rather see a program where the university was free for students like high school is but this idea is not bad.
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againes654 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:14 PM
Response to Original message
4. I would rather have
health care, and education personally.
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Cleita Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:14 PM
Response to Original message
5. It's a start.
Edited on Fri Sep-28-07 03:17 PM by Cleita
As a way left liberal, I prefer the idea that we look after all our children from cradle to university by helping them and their parents with the assistance they need to raise them, like safe and healthy places to live, food and clothing, health care and of course education that will take them as far as they can go and at least to where they learn a lifelong skill to be able to support themselves.

On edit: Just a question that occurred to me. Where does the money and accumulated interest go if the baby doesn't live to adulthood?
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ShaneGR Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:21 PM
Response to Reply #5
12. I would guess back into the fund?
To pay for the next baby?
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Suich Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:14 PM
Response to Original message
6. What a good idea!
Make it so nobody can get their hands on it except the child on their 18th birthday.

Any idea what the savings bond would be worth after 18 years???
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Tierra_y_Libertad Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:15 PM
Response to Original message
7. All? I'd rather it be directed at poor people in larger amounts.
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BlooInBloo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:16 PM
Response to Reply #7
8. Damn. It's not perfect. Therefore it must be crap.
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Tierra_y_Libertad Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:25 PM
Response to Reply #8
16. Well, I think that giving $5k to millionaires' kids is kinda unnecessary.
Edited on Fri Sep-28-07 03:26 PM by Tierra_y_Libertad
Don't you?
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book_worm Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:17 PM
Response to Original message
9. Bravo to Hillary! A pretty good idea. Invest in the future at home
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BlooInBloo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:21 PM
Response to Original message
11. 5000 * e^(.03 * 18) = $8500. Basically 1 year of college tution for every kid.
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YOY Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:41 PM
Response to Reply #11
19. Actually College costs are expected to go up too
Try about $14,400 for one year in 18 years.
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BlooInBloo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:45 PM
Response to Reply #19
22. Whatever. Then use a more realistic interest rate in my calculation.
Edited on Fri Sep-28-07 03:45 PM by BlooInBloo
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:22 PM
Response to Original message
13. I would rather see affordable college right now.. Why not $5k
in tuition credits to all college kids with family incomes under $75K..

Do we really trust them to take care of that money for 18 years?? Look at how carefully they handled all that extra soc. sec. money the bomers have faithfully handed over for 4 decades? Now that most of us are ready to collect on that promise they made us when the doubled our "contributions" under Reagan, they have somehow "misplaced" all the money and totally forgotten that we even exist..They have "known" all about us since 1945 (give or take a year or two).
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Zensea Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:22 PM
Response to Original message
14. This is just empty rhetoric
Sure it's a good idea, but there is no way anything like this will ever happen.
I'm not even sure it's that good an idea since it could be said to encourage people to have children.
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madrchsod Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:23 PM
Response to Original message
15. well it`s a nice idea but it will never pass.
someone`s crunching the numbers right now on whether the plan is affordable or not. it would be affordable if we cut the military budget and again that will never happen either
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Mountainman Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:27 PM
Response to Original message
17. Why not give everyone $5,000 ? I'm a liberal but I don't agree with just
giving away money. I believe is social programs but this is not a social program.
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Cleita Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:33 PM
Response to Reply #17
18. Actually, it's a very conservative program.
It kind of abrogates any more responsibility for raising the child. Well you got $5,000, what else do you want? It reminds me of the $300 tax refund everyone got when Bush took office. That's that last time anything like that happened.
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BlooInBloo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:58 PM
Response to Reply #18
23. That wasn't a refund. That was an advance.
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Cleita Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 04:05 PM
Response to Reply #23
25. It did end up being that way and somewhere along the line
I believe conservatives could turn this idea into somethink like that too.
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BlooInBloo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 04:13 PM
Response to Reply #25
27. Sure - they *could* turn ANY idea into crap. Does that fact mean no idea is worthwhile?
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ruiner4u Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:43 PM
Response to Original message
20. WooHoo!! next week she will promise everyone a chicken!
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OmmmSweetOmmm Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 04:20 PM
Response to Reply #20
29. And then the next week, a pot to put the chicken in......
:shrug:
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Bluebear Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 03:44 PM
Response to Original message
21. GOP will say: "You got your stinking 5K, now leave us the hell alone re: health care, etc."
I don't care for this particular idea at first glance, but as always am open to reading more about it!
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Cleita Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 04:06 PM
Response to Reply #21
26. I think you are right Bluebear.
It sort of falls somewhere in the "beware of Greeks bearing gifts" category.
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killbotfactory Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-28-07 04:19 PM
Response to Original message
28. Can I have some of that money? I was a baby once.
I guess this is an okay stop-gap measure, but how about we use that money to help fund a college education for anyone qualified to receive one?

We are so obsessed with market-based strategies for every aspect of life in this country, it's ridiculous.
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