$500.00 per newborn bill

Published: November 10, 2009, 1:18 pm

A bill in the house and senate to give each newborn child $500.00 for a savings acct. Not able to withdraw funds until of legal age.

What is this in my opinion.

An indirect way to funnel money into the banking system yearly by the feds. This money will be in the banking system for at least 18 years from start date. So we get 18 years of money funneld into banking before withdrawl starts. These banks will make high interest on this money.

Lets figure it out

US birth rate per year + - 4,317,120 x $500.00 ,cost 2,158,560,000 per year

2,158,560,000 x 18 years = 38,854,080,000 that 38 billion 854 million and change for those of you from Rio-Linda.

Now the banks are sitting on 38 billion plus. They should be able to repay the first years recipients with money made off that intial $500.00 for each child.

And this will carry on for how long?

What the fu**

Entry #1,138

Comments

konane - Nov 10, 2009, 2:23 pm

Another slush fund for banks and government slapped on our backs to repay.

Hey folks the government doesn't create money, it creates DEBT.

JAP69 - Nov 10, 2009, 2:36 pm

Well Konane I look at it this way. Depending on a persons income level each taxpayer in that level with children get tax credit for each child. Now if that parent was to put even a portion of that credit into each childs savings until they are of age how much would each child have when they are of age.
It is Gov,t gone stark raving insane.

phileight - Nov 10, 2009, 5:26 pm

make it a $1000. can't be touched untill age 60. phase out social security and every other govt. handout

wiltay - Nov 11, 2009, 2:27 am

The government doesn't know what it's doing. They don't have a clue. They're playing it as they go at our expense and are hoping it turns out okay. How scary!

$500.00 per newborn bill

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