Just when you thought the presidential candidates couldn't possibly do or say anything else stupid ...
This time it's Hillary. A new Hillary campaign concept, called "Bribe the Babies", is a plan for the government to annually give every baby born in the U.S. a $5,000 gift. The $5,000 is to help the babies, 18 years later, pay for college or, if they don't go to college, make a downpayment on a house (since when does an 18-year-old buy a house?)
Senator Clinton declined to say how much this would cost or how this would be paid for by the government but any idiot can do the math and see how much it would cost ...
There are 4 million babies born each year in the U.S. At $5,000 each that's a cost of $20 billion. A year. To bribe babies with $5,000 in the form of a bond.
Another thing that Hillary neglected to tell you is the impact of illegal immigration on this proposed program. With more than 15 million illegal immigrants running around the U.S., and more coming here every day, illegals could easily produce another 4 million babies a year. These "extra" 4 million babies would also be entitled to receive $5,000, just because they would be born in the U.S. That would balloon the cost of Hillary's "Bribe the Babies" program to $40 billion a year. And $20 billion a year of it would go to illegal immigrants' babies.
College, or a house?
At 5% interest a year, with pricipal and interest, an 18-year $5,000 baby bribe would be worth $9,500.
Today, an education at a top 4-year ivy league university costs $160,000. In 18 years, based on inflation, it is likely to cost over $500,000.
In 18 years, based on inflation, a $300,000 house in America is likely to cost over $1 million, with a minimum downpayment of $200,000.
On their 18th birthday, what will today's babies be able to buy when they cash in their $5,000 baby bribe? Not much. Certainly not a college education or a house.
Bribing babies with $5,000? What idiot thought up that brilliant idea?!
copyright 2007 Andrew Lawrence