September 29th 2007 Floating Baby Bonds
While speaking to the Congressional Black Caucus on Friday, Hillary Clinton floated the idea that every child born in the United States should get a $5,000 “baby bond” from the government to help pay for the future costs of college or buying a house, so long as they’re 18 years of age and a high school graduate.
“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.
It’s interesting that when it comes to growing your account using privatized social security she feels a little different - interesting - but not surprising given the audience. At the August, 2007 AFL-CIO Forum she said “We’ve got to make sure that nobody ever tries to privatize Social Security, something that I’ve fought tooth and nail.”
She told the CBC that one way of building a stronger economy is “more savings, starting with the so-called baby bonds idea where every person born in this country would be given that kind of account because we want to make an investment in America’s young people.”
In other words, it’s for the children, but screw the 20 somethings, the 30 somethings and 40 somethings - you can fend for yourself when it comes to your retirement. And just to be fair, I’m ok with that because it’s not the government’s role to coddle us and wipe our noses every step of the way. However, I’m not interested in trading one for the other.
There are no real “details” that she had to offer for this plan as she addressed the CBC, it’s just an idea that she floated in front of them because well, this is the kind of thing that makes them feel good, this is the kind of thing that they like to hear. It feeds the entitlement mentality, it bolsters the need for and the dependency on Government, and it’s page one in the Democrat playbook, with a slight twist - suck them in, and suck them in early.
Clinton presented no official numbers, didn’t suggest how this would be paid for and her campaign made sure to point out afterward that this is not an official policy proposal but simply an idea that is under consideration, it’s also one that mirrors a similar proposal by Time Magazine.
Approximately 4 million babies are born in the US each year.

$5,000 per x 4,000,000 babies = $20,000,000,000
Thanks Hill …

