[operation clinton cleanup]

If families added $50 a month to the state's initial contribution, the savings account would grow to nearly $17,500 at 5 percent interest over 18 years. Steinberg said that would promote saving money in a culture that now is carrying record levels of debt and has the lowest savings rate since the Great Depression.

If the parents could afford to put away $50 a month, why should anyone supply them the first $500? What a stupid idea. Now if I could invest my FICA taxes... that just might work!

[yankeedame]

If families added $50 a month to the state's initial contribution, the savings account would grow to nearly $17,500 at 5 percent interest over 18 years

And where, in the name of Mother McGee,

• are you going to find something that will pay a steady 5% per year for 18 years straight over the rate of inflation?? You know, if inflation is running 2% the return on this better be a minimum of 7%; inflation 4%? investment better now pay 9%, etc.;
• and isn't interest on savings taxed?? If not taxed while sitting in the back, is it going to be taxed ***WHAMMO*** when you take it out when your kid starts college?
• And what if junior can't or won't go to college (or place of higher education, like a trade school), do you have the give the $500 back...with interest?

But, still and all, it's sure is great that California -- unlike here in Ohio -- has all its problems solved, and has so much money left over that it can afford to do this!

[ApplegateRanch]

If the parents could afford to put away $50 a month, why should anyone supply them the first $500?

Suh, iff'n I puts $5 in each of muh 10 chillin's accts, ain't thet be the same diff'ence?

An, den woul'na each of dem only have to pays back $50 when dey's 18?