President Donald Trump’s recent attacks on democratic socialists who have won Democratic Party primaries could clash with his idea of creating investment accounts for American adults.
The administration this week already formally launched its Trump Accounts initiative for children, which includes a one-time government contribution of $1,000 for each eligible child. The president, during a Monday Oval Office event marking the start of that program, floated what would be another costly government-funded program.
“You haven’t seen anything yet. Between individual contributions and the seed funds, $800 million in new capital will be invested in the stock market for America’s children this week. And I also think that we’re going to be putting numbers in the budget, which will be really spectacular, because it’s really not costing us anything,” Trump said as a group of children looked on sitting on the Oval Office floor nearby.
“We’re giving this money to children so they can have a good life. Very early on, they can have a good life. And we’re going to be doing, also, something we’re working on later on and it’ll be also, I think, very popular and I guess the best definition is, they have a plan in Australia, which people really like.
