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ASPIRE? Are you for this?


The government has been tossing this around for years and now they think it's a great time to try again. In this version they will give all babies $500 at birth. Lower income earners will be able to get matching funds from the government (taxed)up to another $500 for what they deposit. They can use it for a house, school or retirement. The costs are estimated at around $40 billion and the current version has adults having to pay back the $500 (adjusted for inflation)interest free at age 30. Is it a good plan, how will they pay for it?

http://www.newamerica.net/publications/policy/aspire_act_bill_summary

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 11:26 AM on Oct. 8, 2009 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (7)
  • Seems like a waste of money to me. Saving money is important and parents should teach their children that. In fact if more would realize the difference between needs and wants and saved more we would not be in the trouble we are today. I don't think it is right to give money to a child and at age 30 they are told they have to pay it back. We want to put infants in debt from the get go seems a bit twisted.
    Anonymous

    Answer by Anonymous at 11:41 AM on Oct. 8, 2009

  • This is a joke and a waste of our money.

    This is another way to buy votes from the ignorant.
    gammie

    Answer by gammie at 11:59 AM on Oct. 8, 2009

  • It's a feel-good bill that will accomplish nothing. $500, even double or tripled, will not pay for a single semester of college and will not pay for a down payment of a house. By the time the kid is 18, it MAY pay for him to buy a bicycle.
    mancosmomma

    Answer by mancosmomma at 12:52 PM on Oct. 8, 2009

  • No.
    milmiracle

    Answer by milmiracle at 1:37 PM on Oct. 8, 2009

  • Dumb idea.

    How about if we put some money toward a mandatory class for all high school kids? It will teach them real world things like how to vote, not quitting a job unless you have another one, how to balance a checkbook, how taxes work, the importance of saving & the power of compound interest, what can happen with credit cars, credit reports/fico scores...you know something they will encounter in the real world.
    yourspecialkid

    Answer by yourspecialkid at 1:43 PM on Oct. 8, 2009

  • That's it...I'm going back to the hospital and demanding my uterus back by Georgie!  Still got the ovaries, oh wait, DANG IT!!!  Can they reverse a vasectomy?

    Anonymous

    Answer by Anonymous at 2:19 PM on Oct. 8, 2009

  • yourspecialkid, I think that's a GREAT idea!  Kids need to be taught how NOT to make the same mistakes as their parents...living above their means...robbing Peter to pay Paul, etc.

    Anonymous

    Answer by Anonymous at 2:24 PM on Oct. 8, 2009

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