Connect Every Child to a Lifelong Savings Account

The idea of universally endowing every child with a savings account starting at birth was initially proposed by Michael Sherraden in his 1991 book, Assets and the Poor. Sherraden argued that traditional welfare programs, which provide only income supports, were not enough to help families climb out of poverty. What were needed to bring about meaningful improvement in the long-term economic conditions of low-income families were asset-building policies like children's savings accounts (CSAs).