American Dream Initiative

Well the Democrats have unveiled their plan:

The American Dream Initiative includes proposals that DLC President Bruce Reed said would cost $450 billion to $500 billion over 10 years. He said the cost could be offset by eliminating corporate subsidies in the tax code, cutting out 100,000 unnecessary federal contractors and making a more aggressive effort to identify and collect taxes now going uncollected by the Internal Revenue Service. The initiative also calls for a return to pay-as-you-go budget rules in Washington, which means that all spending on new programs must be offset by cuts elsewhere.

The centerpiece proposal would provide additional support for college costs, with the goal of increasing the number of college graduates by 1 million a year by 2015. The proposal includes $150 billion in block grants for states to ease rising tuition costs and a consolidated tax credit for students. To qualify, states and universities would have to limit tuition increases to the rate of inflation.

Other ideas include requirements for employers to establish retirement accounts for all workers and a refundable tax credit for savers; "baby bonds" that would create a government-funded savings account of $500 for every child born in the United States; a refundable tax credit to help provide the down payment on housing; universal health care for children; and benefits for small businesses to lower the cost of providing health insurance to workers.