Congressional Democrats reintroduced a bill on Thursday to establish $1,000 “baby bonds” for Americans born after Dec. 31, 2021, according to Breitbart News.
The accounts will accrue about 3% interest and the government would deposit up to $2,000 in those accounts every year until the person turns 18. Individuals could begin taking money from their account when they turn 18 so they could spend it on things such as college, a down payment on a home, or starting a small business
In a tweet on January 14, Booker said, “I’m hoping @JoeBiden will include Baby Bonds in the next economic recovery package. By investing in our children, we can build our economy back better while largely closing the racial wealth gap. Proud to be leading the charge on this with @AyannaPressley.”
Critics swiftly shot back on Twitter: “I assume this will be tax-payer funded, so it begs the question: Exactly how much of someone else’s money is it that you think the federal govt is entitled to?? I mean, do you even care about the crippling debt you’re dumping on future generations?” tweeted one person.
“You definitely do not have a clue how the economy works. You are planning to give away my money with pomp like you bestow your own money,” another wrote.
“Thanks but I’d rather have the $2000 [stimulus check promised by President Biden]. Not planning on having babies,” tweeted yet another person unimpressed with Booker’s and Pressley’s generosity with other people’s money.