Sen. Hillary Clinton, D-N.Y., floated the idea Friday of giving every child born in America a $5,000 "baby bond" from the government to help pay for future costs of college or buying a home...
"I'm pleased that Sen. Clinton keeps talking about 'baby bonds,' whether $500 or $5,000 at birth," said Ray Boshara, the vice president of the New America Foundation.
Boshara, who has worked with Clinton's policy staff on the concept, did not see the different dollar figure floated by Clinton on Friday as reflecting a definite policy change. Rather, he saw it as an affirmation of her excitement with the concept and expects her to continue to work out the details when she develops a formal proposal.
"I think Sen. Clinton is very, very excited about accounts at birth and hasn't settled on the right combination between initial deposits and matching deposits until 18," said Boshara. "She and her staff told me in the next several months we'll work on the details. . . . When we work out the details, we'll figure out the best way to get to around $20,000 at 18 -- that's what matters."
Ray Boshara is Director of New America's Asset Building Program, which is hosting an event on Wednesday, Oct. 3, 2007
, to showcase the ASPIRE Act and its goal of creating savings accounts for children. For this complete article, please visit the ABC News website