MY DAILY RANT!
ASSOCIATED PRESSCalifornia Bill Would Give Newborns $500 Savings Accounts
Thursday , March 01, 2007
SACRAMENTO —
Every child born in California would get a $500 savings account to start building a nest egg for college or down payment for a home, under a bipartisan bill introduced Wednesday in the state Senate.
The proposal would cost taxpayers about $285 million a year.
…
Under the bill, every child born in California after Jan. 1, 2008, would receive the money, regardless of their parents' income or immigration status. Recipients would repay the state's initial $500 investment once they turn 18.
The money may be used for three purposes: college or continuing education, a down payment on a home or a retirement account.
...
Let's ignore the NannyStatiitis of the proposal.
Is there no better use for a quarter of a Billion dollars/year of "yet to be found" money:
Pre-Natal care for the uninsured
Pre-K health care for the uninsured
Sufficient Substance Abuse programs
Adequately staffed free-clinics to off-load our Emergency rooms
Properly staffed Children's Services Departments
Sufficient free evening ESL programs
Adequately staffed Library resources (both in school and community)
Is the lack of an adequate nest egg for emerging adults really our most pressing social problem?
der Brucer