In the News

Columnist Neal Peirce Extols Ray Boshara, Kids Savings Accounts

The Surest Road to Weather the Storm
June 18, 2007

Are the bad old days back? Read the headlines and you'd think so: "Violent Crime Blazing Back in America" and "Big-city murders way up since '04..."

Let's assume the recent rise is serious. What's happening? Lots of competing explanations get offered: Gang problems are now growing in smaller cities. Gun laws are loose and the politicos fear to stiffen them. Because we have the world's highest incarceration rate, rising numbers of inmates are being released from prisons — far too few rehabilitated or able to land a job...

Everyone wants truly dangerous criminals behind bars — indeed for as long as possible...

How about prevention — investing early, systematically in kids and families? This is the issue all the alarming crime headlines, and quick political fixes, ignore. Poverty, broken families, poor education and significant crime are inextricably bundled. Early childhood nutrition, care and education can pay off hugely later...

What of the argument that we can't "afford" the depth of early-childhood services such as other advanced nations provide?

Ray Boshara of the New America Foundation has a radically better idea: Establish an "American Stakeholder Account" for every child at birth — initial government deposit $6,000, plus eligibility for dollar-for-dollar matching funds for voluntary contributions up to $500 a year. Assuming modest but steady contributions, a young person might have $20,000 by age 18 for college tuition, a home, starting a business, or long-term savings.

What does such an idea have to do with crime? A lot, I'd think — building a mindset of hope is the best conceivable antidote to the lure of the streets, gangs and drug dependency. The ultimate benefits to the U.S. economy, in added wage earners and taxpayers, and fewer mired in lives of desperation, could be immense. America's surest road to a safer society is what we always claimed to be the best at — building opportunity...

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