I recently spoke with WTOP in Washington about a new policy that would give every newborn in the United States a $500 savings account. The money would grow and could be put towards education, a first home, or retirement. Research suggests that such a program would encourage people to save more money on their own, to invest in their futures, and to feel more in control of their lives. The cost—about $37.5 billion for the first 10 years—concerns many of those who oppose the program.
Coming Soon: $500 for Every Newborn?
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