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Hillary ‘Baby Bonds’ Inflate 1000% In 1 Year

Surely by now you have heard the latest munificent proposal from the foremost defender of children, Mrs. Bill Clinton.

If not, here it is joyously trumpeted by the Associated Press:


Clinton: $5,000 for Every U.S. Baby

Sep 28, 2007
By DEVLIN BARRETT

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.” …

But regular readers of S&L, unlike our watchdog journalists, might recall that this is not the first time Mrs. Clinton has raised the idea of giving every child born in America some of the taxpayers’ largess.

As we noted in this article from her fans at Reuters, she proposed federally funded “baby bonds” last year:

Of course prices have gone up:

Hillary Clinton: “It’s the American dream, stupid”

Tue Jul 25, 2006

By John Whitesides, Political Correspondent

DENVER (Reuters) – New York Sen. Hillary Rodham Clinton, a possible White House contender in 2008, said on Monday the Bush administration had hurt working Americans and Democrats must offer new ideas to strengthen the middle class…

The yearlong initiative headed by Clinton was designed to give the party new ideas for midterm elections in November and for the White House race in 2008.

Clinton said she hoped the agenda would “unite Democrats and help elect Democrats” in November, when the party must pick up 15 seats in the House of Representatives and six seats in the Senate to regain control of Congress.

“This plan will make the basics of life in the middle class — health care, education and retirement — affordable for those who take responsibility,” Clinton said.

“These ideas will make sure every American will get a fair wage, access to college and home ownership and a path out of poverty and into the middle class,” she said…

While much of the agenda covers familiar Democratic territory, it adds some new flourishes. An “American Dream Grant” would award money to states based on attendance and graduation from state colleges, while American Dream Accounts would enhance retirement savings and federally funded $500 “baby bonds” would be issued to each child born in America

How typical of Hillary and the Democrats in general to raise a government program 1000% in just over a year — and even before it is enacted.

But how come none of her lickspittle minions in the mainstream media have reported this slight “mission creep”?

(Oops. I think I answered my own question.)

This article was posted by Steve on Saturday, September 29th, 2007. Comments are currently closed.

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