"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.
Cap'n Ed Morrissey did the math.
(Correction: Cap'n Ed may have done the math, but I failed to reproduce it accurately. It's four million babies, not four billion. Four billion babies really would be quite a few. As a result, the dollar figure should have been $20 billion. Certainly not as sensational as $20 billion, but a whole lot more accurate in terms of representing the plan.)
Per year.
Assuming that dear Sen. Clinton isn't planning on ballooning the debt like nobody ever did before her, she'll probably need a tax increase (or two ...) to cover the new expenditure.
She starts to look like a tax-and-spend liberal, no?
Hat tip to Captain's Quarters.
*****
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