Vice President J.D. Vance wants to pay married parents to stay home with their children, and he wants to do it with money Congress appropriated to help low-income families afford day care. Whatever one thinks of the goal, which may prove popular, the proposal fails every test we should apply to government subsidies.
That's because the proposal corrects no market failure. It pays people for choices they're already making. It adds a new claimant class to a budget that cannot carry the ones already promised something. And it does all of this without a workable plan to pay for it.
