Hillary's Baby Bond

[Walter Craparita]

Hillary Clinton Proposes $5,000 'Baby Bond'

Friday, September 28, 2007

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WASHINGTON — 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 down payment 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.

You socialist bastards.

Won't let us privatize social security, but this....

Hillary will _ _ _ _ up America far worse than Bush has done.

Book it.

Maybe parents should start investing in ESA's and quit getting loans for HD TV's and 40k worth of depreciating vehicle "assets." God forbid a person fend for themselves and not rely on the government.

[Nbadan]

Common...would this apply to immigrants? Let's encourage a baby boom!

.........5,000 at 5%/yr for 18 years is only $12,305.68 or a years worth of college........

Each person's share of the national debt is about $25,000......

...stupid idea.....

[Wild Cobra]

Common...would this apply to immigrants? Let's encourage a baby boom!

.........5,000 at 5%/yr for 18 years is only $12,305.68 or a years worth of college........

Each person's share of the national debt is about $25,000......

...stupid idea.....
On top of that, when you subtract inflation, it could end up being worth less than $5,000 compared to today's money.

Typical liberal feel-good idea. Makes no sense when you put an ounce of thought into it.

Let's assume the bond grows by 1% more than inflation. After 18 years, it grew by 19.6%, or the equivalent of $5,980.

Now I don't follow the bond market, but don't they normally track inflation pretty close? No real gains? I do know there are different classes of bonds rated by risk as well. Do you place the money in a high risk bond that could lose everything, or a low risk bond that might grow less than inflation?

[Jamtas#2]

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.


This part bothers me. She goes off saying how most people don't save and so we will do it for them, but then when they turn 18 they can choose how to spend it? How many will spend that on education or a dwon payment and how many will just blow it? Tax money should not be used to set everyone up with a lump sum of money to spend at the age of 18. This message plays well to a crowd of people, but it won't go towards the lofty goals she predicts.

[xrayzebra]

WC, correct me if I am wrong, but somewhere around 85 or that
time period, there was a vogue that said, buy a junk bond for
very little when you buy a house and hang on to it for x number of
years and then sell it/cash it in and it would pay all your money
back. Some sort of scheme like that. Maybe someone else can
remember all the details.

Maybe Hillary thinks this way. I mean after all she made all
that money in cattle futures, I think it was.

[Walter Craparita]

uh oh. Should have made Title BUSH SUCKS REPUBLICANS ARE THE DEVIL GIGGLE GIGGLE FIST to get more views hahaha.

[Wild Cobra]

WC, correct me if I am wrong, but somewhere around 85 or that
time period, there was a vogue that said, buy a junk bond for
very little when you buy a house and hang on to it for x number of
years and then sell it/cash it in and it would pay all your money
back. Some sort of scheme like that. Maybe someone else can
remember all the details.

Maybe Hillary thinks this way. I mean after all she made all
that money in cattle futures, I think it was.
I don't know. I was in S. Korea, and wasn't getting any reliable news from here.

[Nbadan]

Hillary has more in common with Republican than she would like to admit, even serving as President of the College Republicans...


Hillary Rodham took her parents advice and pursued an academic career. Her undergraduate studies took place at Wellesley College for women in Wellesley, Massachusetts. This is the college where another famous female politician, Madeleine Albright, graduated in 1959. Hillary Rodham had always been interested in politics, and now she took an active role in the school government. For a time she served as President of the College Republicans.

She was deeply affected by the assassination of civil rights leader Martin Luther King, Jr. She had met him in person when her youth minister, the Reverend Don Jones, brought her to hear King preach in 1962. Encouraged by Professor Alan Schechter, Hillary Rodham attended the Wellesley in Washington program and before long she became a dedicated Democrat. By that time she was selected valedictorian of her Wellesley class. About this transition she would later say “I have gone from a Barry Goldwater Republican to a New Democrat, but I think my underlying values have remained pretty constant; individual responsibility and community. I do not see those as being mutually inconsistent.” Her final thesis in college was on leftist organizer Saul Alinsky.

Hillary (http://www.hillary-rodham-clinton.org/education.html)

[TDMVPDPOY]

in australia they get 3-5k Aus dollars for every child born :D, and then you got the social security payments :D:D = win win

[Wild Cobra]

in australia they get 3-5k Aus dollars for every child born :D, and then you got the social security payments :D:D = win win
That money doesn't come out of thin air. Somebody's paying for it.

That's right, run low on money.... Get TAXPAYERS!

Damn, I hate the socialistic attitude. Mostly a bunch of lazy bums who want someone to be their mommy.

[DarkReign]

uh oh. Should have made Title BUSH SUCKS REPUBLICANS ARE THE DEVIL GIGGLE GIGGLE FIST to get more views hahaha.

Dan and I dont see eye-to-eye on anything except one...

Our disdain for Hilary Clinton. Your point again was....?

[101A]

The 5 grand would be invested in...government bonds. Just like Social Security. Hillary could start doing this; and be long out of the WH before the poor slob of a president and his congress 18 years later would have to raise taxes to pay for it.

[Nbadan]

ABC News just tried to sell the Republican dogma again that Hillary has already won the Demo candidacy, even saying that Hitlary is the favorite even among anti-war activists.....like ABC News knows anything about anti-war activists......

[Wild Cobra]

Well, she is backtracking on the Baby Bond issue.

Hillary abandons 'baby bonds' plan (http://www.washingtontimes.com/apps/pbcs.dll/article?AID=/20071011/NATION/110110086/1001). Part or text:



As The Washington Times reported Tuesday, Republicans immediately ridiculed the idea, and some operatives said it was Mrs. Clinton's first mistake of the 2008 campaign. Polls proved it was unpopular, so it was locked away and never mentioned again, baffling some of her Democratic rivals but illustrating a broader theme of the Clinton campaign — discipline and dominance.


Mrs. Clinton told reporters after making the comment Sept. 28 it was "just an idea I threw out to see what kind of reaction I'd get," and said if it was specific, she would propose a way to pay for it.


Wow... Just an idea floated...

Just goes to show, she doesn't mean anything she says. She's just looking to fool the people into voting for her!