What is a quick way to get Republican’s panties in a bunch? Just say you like the idea of setting up college funds for children when they are born. That is what Hillary Clinton said today while speaking in front of 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.
As you can imagine it didn’t take long for many to come out in unison blasting Hillary for even suggesting such a thing. She’s supporting socialism, how would we pay for it? It’s nothing but a $20 billion entitlement.
Addressing the Congressional Black Caucus, Hillary said she’d like to spend $20 billion each year on checks to newborn infants. Since 2000, the United States has had over four million births per year. In 2004 with 4,121,000 births, and each of them receiving $5,000 under Hillary’s plan, that would mean $20,605,000,000 for a single year. To put that in perspective, that’s nearly the equivalent to the budget for the entire Department of Justice in 2006, which topped out at $23.4 billion. No word on where she would get the money from. It’s easy to talk about writing checks, but much harder to actually implement.
Of course missing from all the outrage was the context of Clinton’s statement. You see this isn’t Hillary’s plan, she was actually asked to comment on something that was originally written about in Time Magazine last month and would require public service in order for anyone to collect on the savings account. She even went so far as to say that it wasn’t any kind of policy proposal but just an idea that she liked. On a side note I like the idea where the government gives me a few million dollars but somehow I think that neither idea has as much chance of becoming reality.