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Kris Iyer, Senior Lecturer in Finance and Economics, Torrens University Australia

Trump has $1,000 baby accounts. In contrast, Australia delivers a lifetime of savings

United States Australia Donald Trump Social Security Trump Accounts

Why is the US president now handing out US$1,000 to American babies – and what does it have to do with a retirement system built on the other side of the world?

President Donald Trump has pointed to Australia as an inspiration for his proposal to strengthen Americans’ long-term financial security by offering US$1,000 savings accounts to newborn babies – and it’s not hard to see why.

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