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In the Bubble with Andy Slavitt

How We Can Put Every Kid through College

In the Bubble with Andy Slavitt

Lemonada Media

News

4.63.5K Ratings

🗓️ 23 September 2022

⏱️ 50 minutes

🧾️ Download transcript

Summary

What if every baby could receive a college savings account, regardless of the financial situation they’re born into? That’s the mission behind baby bonds, a government policy championed by Senator Cory Booker that would provide children with a nest egg to start off adulthood. Andy speaks with economist Darrick Hamilton, who proposed the policy in 2010 as a mechanism to reduce the racial wealth gap in the United States, and St. Paul Mayor Melvin Carter, who created a program in his city. They explain how baby bonds could eliminate college debt, why we should invest in kids we don’t personally know, and the money and public support it would take to expand local programs to the national level.

Keep up with Andy on Twitter @ASlavitt.

Follow Darrick Hamilton and Mayor Melvin Carter on Twitter @DarrickHamilton and @MayorCarter.

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Transcript

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0:00.0

It's CVS Health, they know the women's physical, mental, and sexual health matters.

0:05.0

That's why they're offering new women's health services available nationwide seven days a week.

0:09.0

From heart health, blood pressure, and cholesterol screenings available at miniclinic locations,

0:14.0

to virtual birth control consultations and visits with a board certified provider,

0:18.0

women's health is it an afterthought. It matters.

0:21.0

It's CVS Health. Health here happens together. Learn more at CVSHealth.com.

0:27.0

What's the only thing better than second? First, join host Kreme Rama each week

0:33.0

as he brings you the stories of people who had a profound impact on society and culture simply because they were first.

0:38.0

Kreme is joined by fellow comedians to share stories about trailblazers breaking down racial barriers and making history.

0:45.0

From lemon auto media, some friends and salt comes first.

0:48.0

First is out now wherever you get your podcasts.

0:51.0

Lemon auto.

0:56.0

Welcome to the bubble. I'm Andy Slavitt today's Friday, September 23rd.

1:21.0

So many of our shows are about big problems. You don't have great solutions for what I'm so excited about today's show is today's show is about a big problem that we actually have a really interesting solution for.

1:34.0

So many Americans face lower and lower opportunities for success in life.

1:41.0

It all starts with where they begin. They begin adulthood with very little safety net and they need to begin working just to keep up.

1:51.0

Chore changing their opportunities to invest in education and the other things they can get in my head.

1:56.0

Many as you know, even begin life in debt as we covered on a program a couple of weeks ago when we talked about the student debt relief.

2:04.0

It's not just smart, but I think the folks on the show at the time said it's only a bandaid. So the reality if you really think about it of where you end up has awful lot to do with where you start.

2:16.0

And one thing that makes a big difference is assets and you think about it.

2:21.0

I mean, we all know this, but assets provide a cushion for things like healthcare needs that come up for legal representation if you've been taken advantage of for special tutoring in educational assistance.

2:32.0

You can get a kid with a special need that needs some attention, but they also provide investment opportunity in the things we want to do with our lives higher education, home ownership, social participation and things like the arts and sports.

...

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