Greg Mankiw asks the obvious of Hillary Clinton’s campaign proposal for a $5000 bond for every new-born American:
How might this be funded? There are only three groups that could be asked to pay for the new entitlement with higher taxes (or lower benefits): the current elderly, those currently of working age, or the same future generations who are getting the new benefit and are slated to pay for existing unfunded entitlements. Which group do you think Senator Clinton has in mind?
This is a seriously lame attempt for the lower-class vote. Honestly a horrible idea, would never work, would crash and burn, etc… The only people that will buy this line are those who can’t pay for it and politicians who need a little Left to show through.
I have an idea though. Why not fix the problems we have in the schools that prepare these students first, you know, get everyone to a point where they are able to study at the university level (since that’s kind of an important prereq for a college education, you know), then reevaluate the situation.
I see your point though Hillary; from a constituent’s point of view, you’d really be leaving money on the table with, “Let’s fix our public schools,” when you just as easily could change it up and pull a classic dog-on-a-treadmill-chasing-a-hot-dog-on-a-pole maneuver and tell everyone college is paid for when they get there.
