Raising Y2K Child Pegged at $165,630

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http://dailynews.yahoo.com/h/ap/20010611/pl/child_rearing_cost_1.html

http://dailynews.yahoo.com/h/ap/20010611/pl/child_rearing_cost_1.html

Monday June 11 11:00 PM ET

Raising Y2K Child Pegged at $165,630

WASHINGTON (AP) - Parents of Y2K babies may gasp when they check out the final tab.

The average cost of rearing a child born last year will be about $165,630 - or $233,530 factoring in inflation - for food, shelter, and other necessities over the next 17 years, according to an annual report by the Agriculture Department released Monday.

That is a about a $5,000 increase over what it took to raise a baby born in 1999.

The USDA report, ``Expenditures on Children by Families,'' is used by state agencies and courts in determining child support guidelines and foster care payments.

The report noted that family income affects child rearing costs, with low-income families spending $121,230; middle-income families spending $165,630; and upper-income families spending $241,770 over a 17-year period.

In 1960, a middle-income family could expect to spend $25,230 to raise a child through age 17. In inflation-adjusted dollars, the overall cost of raising a child has increased 13 percent from 1960 to 2000.

Since 1960, expenses on children have changed considerably.

The report also found that it is most expensive to raise a child in the urban West, followed by the urban Northeast and urban South. Families living in the urban Midwest and all rural areas have the lowest child-rearing expenses.

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On the Net:

USDA's Center for Nutrition Policy and Promotion: www.usda.gov/cnpp

-- (child@rearing.costs), June 12, 2001

Answers

SEE?? SEE??? And you dumb pollies said there were no Y2K problems!!!

-- (stupid@doo.mer), June 12, 2001.

With "low-income" families spending $121,230 per kid through age 17, and with the average salary in so many countries less than $3000 a year, you'd think either we could do it cheaper or else that there wouldn't be such a population problem in those countries. Something's screwy.

-- Miserable SOB (misery@misery.com), June 12, 2001.

Nothing's screwy. You just have to figure in the cost of Beanie Babies.

-- (beanie@babies.$$$), June 12, 2001.

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