Episode Details
Back to EpisodesNewborn Savings Account: A Drop in the Bucket?
Description
Raising a child in America now costs an average of $303,418, according to a new LendingTree study. This figure, which covers everything from food to housing, has risen significantly. President Trumps new bill includes a provision for a $1,000 deposit into a savings account for every newborn, which some see as a smart start against rising costs. However, critics argue that this is merely a PR move to distract from tougher parts of the bill, such as Medicaid cuts and tax breaks for the rich. As families grapple with these numbers, its unclear if the $1,000 will make a significant dent in the overall cost.
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