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Paying for Investments in Children. Isabel Sawhill October 21, 2008. Trends in Federal Spending on Children. Total real spending increased 1.4% 2004-2008. Compares to 12.2% for all spending Discretionary spending declined by 6.7% Entitlement spending increased by 5.7%

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paying for investments in children

Paying for Investments in Children

Isabel Sawhill

October 21, 2008

trends in federal spending on children
Trends in Federal Spending on Children
  • Total real spending increased 1.4% 2004-2008. Compares to 12.2% for all spending
    • Discretionary spending declined by 6.7%
    • Entitlement spending increased by 5.7%
  • “The 45-year trend of declining investments in children as a share of the federal budget has continued unabated during the past five years.” First Focus, 2008, p. 6,Children’s Budget 2008
advocates for children must
Advocates for Children Must:
  • Avoid wishful thinking
    • Re taxes
    • Re a war dividend
    • Re health care savings
  • Forge a bipartisan compromise
    • Invest new resources in children linked with…
    • Reform of entitlements
why this makes sense
Why This Makes Sense
  • Elderly better off than in the past
  • Younger families struggling
  • The miracle of compound interest
  • We can protecting vulnerable groups
  • Reframe debate around life cycle view
slide7

Source: Isabel V. Sawhilll, “Paying for Investments in Children,” in Big Ideas for Children: Investing in Our Nation’s Future, ed. First Focus (Washington, D.C.: First Focus, 2008).

the miracle of compound interest
The Miracle of Compound Interest

Source: http://www.moneychimp.com/calculator/compound_interest_calculator.htm

See Appendix A, Chart 3.

conclusion
Conclusion
  • Must make cost-effective investments
  • Must protect the vulnerable elderly and phase in any reform gradually

But …..

  • A nation that gives priority to its elderly over its children doesn’t have much of a future.
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