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September 29, 2007

Hillary! Economic Genius [AndrewsDad]

Hillary Clinton suggests $5,000 savings bond for every U.S. baby

WASHINGTON - Democratic presidential hopeful 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.

...

"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 down payment on their first home," she said.

...

"I think it's a wonderful idea," said Representative Stephanie Tubbs 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?"

Hell, why not give each kid an additional $27,000 on top of the $5,000 when they are born and then they will not owe anything.

A few minor issues I have with this idea after the jump

Personal Bleg:
I will now violate the first rule of blogging, know your audience.
If anyone has any personal experiance dealing with issues associated with gifted children, I would love to hear.
andrews-dad AT hotmail DOT com


[John McLaughlin Voice On]
Issue 1
4 million kids a year, $5,000 per kid, if my math degree still works, that is 20 billion per year. Did the governmet get a new job with a big raise recently?

Issue 2
"Every child born in the United States". Every child? Even the ones whose parents are uninvited guests?

Issue 3
A $5,000 bond is going to pay for college or be a down payment on a house 20 years later? Can someone explain the concept of inflation, interest and future value to the Senator?

Issue 4
Is the savings bond fairy going to print and deliver the bonds and administer this new government program or will there be some administrative overhead?

On a scale of 0 to 10--with 0 representing zero possibility and 10 representing metaphysical certitude--what is the chance of this proposal being adopted?
PAT BUCHANNAN!
[John McLaughlin Voice Off]

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posted by xgenghisx at 02:24 PM

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