$5k From Hillary?

I'm sure you guys have read about the proposal from Hillary Clinton that each child born in the U.S. be given a $5000 savings bond. Even if she did win the election, I seriously doubt such a plan would even leave the "planning board" due to the costs involved (see the estimated number of kids born in this country every year...). But it brings up a good point; Americans just aren't saving - not for ourselves and not for our kids. So with that in mind I'm starting to put together my savings plan for Ami'. We are also looking into the various college saving programs out there. Lots of planning but we're in a position to get him off on the right foot where his financial future is concerned!

Hillary Clinton proposes $5,000 'baby bonds'

DAILY NEWS STAFF

Friday, September 28th 2007, 11:50 PM

Hillary Clinton wants the government to give each child born in the United States a $5,000

Hillary Clinton wants the government to give each child born in the United States a $5,000 "baby bond."

Sen. Hillary Clinton said today the government should give every child born in the United States a $5,000 "baby bond" to help pay for college.

"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," the Democratic presidential hopeful told a Washington forum hosted by the Congressional Black Caucus.

Clinton did not say how much her proposal would cost or how it would be paid for.

About 4 million children are born each year in the United States.

The New York senator said these "baby bonds" would help Americans struggling to save enough money to cover rising education and housing costs.

Wealthy people "get all kinds of tax incentives to save, but most people can't afford to do that," she said.

With News Wires Services

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