Wednesday, April 27, 2005

Aspiring for a government handout.

U.S. Rep. Harold Ford, Jr., D-9th comments to an Oak Ridge, TN audience are related in this Oak Ridger newspaper item.

"Ford feels that the Aspire act is essential to teach Americans the value of acquiring assets and using them to build a future."
"Each account would provide a one-time $500 contribution, and children in households earning below the national median income will be eligible for a supplemental contribution of up to $500. "
I'm unconvinced that teaching children to look to Uncle Sam for a handout is the best foundation for financial health. Maybe if mom and dad didn't have to send so much money to Washington they'd have enough to set up this sort of account themselves.

Read Sen. Ford's webpage for his point of view.

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