Wow, Arthur,
My 5 children cost me a million or so. Only thing is that I've never seen a million in my lifetime. Wonder how I did it? Harry From: [email protected] [mailto:[email protected]] On Behalf Of Arthur Cordell Sent: Tuesday, June 01, 2010 6:57 AM To: [email protected]; 'RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION'; [email protected] Subject: Re: [Futurework] Cost of Raising A Child? $291,570 Says Government Interesting. In the "old days" a child was often thought of as an asset. To work on the farm or work outside the house and bring in extra cash. And often the child would take care of aging parents. Now the situation is reversed. The child has become a consumer good. Something that takes a constant infusion support from birth on. And the child is often keen on finding a "retirement home" for parents. Arthur From: [email protected] [mailto:[email protected]] On Behalf Of Steve Kurtz Sent: Tuesday, June 01, 2010 9:32 AM To: Futurework; [email protected] Subject: [Futurework] Cost of Raising A Child? $291,570 Says Government The above number excludes hospital and pediatrician expenses, and is up to age 18. I just heard an interview with a young woman who recently graduated University in the US. She has 80,000 in student loans; and the *average tuition* cost of US private universities is now over 30,000/year. Add living expenses of 15,000 minimum, and, the total bill approaches 200,000 We are looking at half a million bucks now. It takes less than that to provide care for an elderly parent barring catastrophic medical costs. The myth of the need for continued high fertility to support the elderly in future neglects the present value of child rearing expenses compounded over a generation. <http://r20.rs6.net/tn.jsp?et=1103446458122&s=1031&e=001nCXLRVIZf1RppfAWb7JE r7NKq2VND3x7l2FqjDXCtr9oyzVtbbiDvJj6jXKdMb2Vy50DbxeJSMIGVw3iq5fyD4BBo9auVplc 07Uj0n_QZPPhUPlwhYkLDdtYJrRNt-XwHgq56BT81nHovZtE_vEpC5Dc4uSV34vhv_4HkViKVPY= > http://www.reuters.com/article/newsOne/idUSTRE57367220090804 Pricetag to raise a child -- $291,570, says U.S. Tue Aug 4, 2009 5:48pm EDT WASHINGTON (Reuters) - A middle-income family can expect to spend $291,570 including inflation to raise a child born in 2008 to adulthood, the government estimated on Tuesday, up slightly from the estimate made a year ago. The estimate covers food, shelter and other necessities for a child to age 18, said the annual report by the Agriculture Department. The figure does not include the cost of childbirth or college. Housing accounts for one-third of expenditures on children. Food accounts for 16 percent, the same as child care and education, said the Expenditures on Children by Families report. Last year, the USDA estimated it would cost $269,040 to raise a child born in 2007 to age 18, including inflation. The USDA has made the estimates since 1960, when the estimated cost was $25,300. The department said it planned to have an updated "Cost of Raising a Child Calculator" on the Internet soon. Annual spending for child-rearing ranges from $11,610 to $13,480 for a middle-income, two-parent family, the USDA said. Families with lower incomes will spend less and families with higher incomes spend more. Expenses are highest in cities in the U.S. Northeast, followed by urban areas of the West and Midwest. They are lowest in rural America and cities in the South. (Reporting by Charles Abbott; editing by Todd Eastham) Best wishes, Bill --- William N. Ryerson President Population Media Center and Population Institute 145 Pine Haven Shores Road, Suite 2011 P.O. Box 547 Shelburne, Vermont 05482-0547 U.S.A. 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