Your baby could qualify for $1,000 with a Trump Account

President Donald Trump touted his “Trump Accounts” at a U.S. Treasury event on Wednesday, during which he celebrated giving “every newborn American child a financial stake in the future.”

“We'll fund those personal accounts with a seed contribution of $1,000 which will compound and grow over the course of their lives,” the President informed the crowd, who were greeted by a sign that read “Trump Accounts jumpstart the American dream.”

Detailing how the initiative is set to work, Trump said that parents and contributors, such as other relatives and employers, can add up to $5,000 annually to a child’s account.

He claimed that, with “modest contributions,” the value of each pot should reach a total of at least $50,000 by the time the child turns 18.