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Clinton: $5,000 "Baby Bond" For Each Child Born

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Clinton: $5,000 "Baby Bond" For Each Child Born

Postby JTWood » Sun Sep 30, 2007 9:51 am

I've tried to post political articles without offering any real opinion, but this is just preposterous.

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.

$20B/year, and you know illegals will want this. How much more cost will that add? What about babies born the day/week/month/year before this goes into effect? You know someone will raise a big stink about being denied this.

Also, what is this comment?

"Every child born in the United States today owes $27,000 on the national debt..."

And taxing people to redistribute money won't create more debt???

And what about inflation? If something costs $X now, it doesn't get cheaper if we give everyone a bunch of money to help pay that cost. Inflation will simply raise the price, and the relative cost will stay the same.

I'm sorry, but I fail to see any merit in this idea other than getting economically uneducated people to vote for a certain candidate. Please, someone tell me how I'm wrong.
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Re: Clinton: $5,000 "Baby Bond" For Each Child Born

Postby Pogotheostrich » Sun Sep 30, 2007 10:16 am

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.
How is giving people money going to encourage savings?
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Re: Clinton: $5,000 "Baby Bond" For Each Child Born

Postby AussieDodger » Sun Sep 30, 2007 10:25 am

They have this "baby bonus" here in Australia already , and it stinks.
A teenage girl that I used to work with got pregnant to some random guy , and I asked her whether she was keeping it and she pretty much said "$5,000 woo!"
That is all it creates , more trailer park/teenage pregnancies.
Our government also give people who have kids under a certain age a $500? (not sure how much exactly) per kid payment yearly , which is GROSSLY unfair.
The income tax here is a pretty fair rate , which I like , but for it to go to b******** like that burns. :-t :-t :-t
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Re: Clinton: $5,000 "Baby Bond" For Each Child Born

Postby AcidRock23 » Sun Sep 30, 2007 10:59 am

LOL, 'downpayment on their first home' for $5K. I'm sure that's exactly what the typical 18 year old will do with it...not an XBox/ plasma stoner toy to go w/ their 1/2 lb of cheeba... :-B. Or maybe some pimpin' rims on the Neon? hmmmmm....

I kind of understand the motive but I would think that a better plan might be to commit the same amount of money to repair and maintain our crumbling roadways and bridges and other infrastructure and make the jobs available to the same kids that we would give the bonds to, or even now to the current generation of 18 year olds who are having the babies at what is likely not the best time in their lives to be having kids in the first place? If they can rake in $30/ hour shoveling concrete or even just standing there holding the 'Caution: Slow down for Young Americans Rebuilding the Nation along with their Bank Accounts' sign it would go a long way towards rebuilding our national backbone in production of actual goods. Look what building the roads in the first place did for our economy in the 1930s...sure the war helped but getting unemployed people out on the road did a lot of good then and could do it again. Giving dingbats money rarely seems to help them achieve the sort of goals that Hill is talking about....
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Re: Clinton: $5,000 "Baby Bond" For Each Child Born

Postby Grouperman941 » Sun Sep 30, 2007 11:12 am

AcidRock23 wrote:LOL, 'downpayment on their first home' for $5K. I'm sure that's exactly what the typical 18 year old will do with it...not an XBox/ plasma stoner toy to go w/ their 1/2 lb of cheeba... :-B. Or maybe some pimpin' rims on the Neon? hmmmmm....

I kind of understand the motive but I would think that a better plan might be to commit the same amount of money to repair and maintain our crumbling roadways and bridges and other infrastructure and make the jobs available to the same kids that we would give the bonds to, or even now to the current generation of 18 year olds who are having the babies at what is likely not the best time in their lives to be having kids in the first place? If they can rake in $30/ hour shoveling concrete or even just standing there holding the 'Caution: Slow down for Young Americans Rebuilding the Nation along with their Bank Accounts' sign it would go a long way towards rebuilding our national backbone in production of actual goods. Look what building the roads in the first place did for our economy in the 1930s...sure the war helped but getting unemployed people out on the road did a lot of good then and could do it again. Giving dingbats money rarely seems to help them achieve the sort of goals that Hill is talking about....


;-D

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Re: Clinton: $5,000 "Baby Bond" For Each Child Born

Postby JTWood » Sun Sep 30, 2007 12:26 pm

AcidRock23 wrote:If they can rake in $30/ hour shoveling concrete or even just standing there holding the 'Caution: Slow down for Young Americans Rebuilding the Nation along with their Bank Accounts' sign it would go a long way towards rebuilding our national backbone in production of actual goods. Look what building the roads in the first place did for our economy in the 1930s...

To be fair, there's a difference. Creating roads established new commercial pathways that generated revenue. Maintaining roads would hardly have the same impact.
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Re: Clinton: $5,000 "Baby Bond" For Each Child Born

Postby CheeseBeger » Sun Sep 30, 2007 1:54 pm

Seems like a nice first step towards

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This is one of the biggest reasons why I could never call myself a democrat. She should just come out say "Vote for me, I'll take someone else's money and give it to you." It scares me that many people will hear her proposal and actually give her votes because of it. She is playing to what the masses want to hear, regardless of the practical consequences.


"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?"


Someone slept through Intro to Economics in college.
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Re: Clinton: $5,000 "Baby Bond" For Each Child Born

Postby brewcrew4you » Sun Sep 30, 2007 10:50 pm

Yet one more reason I hate Hilary.

Anyone else in '08!
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Re: Clinton: $5,000 "Baby Bond" For Each Child Born

Postby slomo007 » Mon Oct 01, 2007 11:50 am

Is it normal to actually be scared about what would happen to this country under Hilary? Who is actually voting for her anyway, besides the feminists?
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Re: Clinton: $5,000 "Baby Bond" For Each Child Born

Postby Yoda » Mon Oct 01, 2007 1:44 pm

slomo007 wrote:Is it normal to actually be scared about what would happen to this country under Hilary? Who is actually voting for her anyway, besides the feminists?


A hell of a lot more people than just the feminists. I know that much...
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