Speaking to the Congressional Black Caucus, Democratic front-runner Hilary Clinton spoke about her baby bond proposal saying, “I like the idea of giving every baby born in America a $5,000 account that will grow over time so when that young person turns 18, if they have finished high school they will be able to access it to go to college, or maybe they will be able to put that down payment on their first home, or go into business.”

Her announcement sparked a short, but heated national debate over the feasibility and success of such a policy. Rudolph W. Giuliani opposed Clinton’s idea saying, “Now, I know this never occurs to the people like Hillary and the other Democrats here in Washington…[that] This costs money.”

The Los Angeles Times published an article in reference to the criticism and the negative media spin sparked by her proposal. The LA Times argued that baby bonds are actually more feasible than critics claim. Not only do similar policies enjoy bipartisan support in the US, but countries such as Britain have instituted very similar programs. “The intellectual history of this idea is property ownership…the idea is to put children on a path toward lifetime savings and wealth accumulation, a notion that appeals to conservatives and liberals” said Ray Boshara, Director of the Asset Building Program at the New America Foundation.

For example, “When everyone was talking about Social Security and savings and retirement security, this was the only idea that brought Democrats and Republicans together.” Boshara argued in a recent piece in the Washington Post.

Unfortunately, Clinton has publicly disavowed her baby bond idea, declaring to the Wall Street Journal that it was off the table. Policy makers and advocates of similar policies such as the ASPIRE Act are sad to lose Clinton’s ability to give currency to this idea. Hilary’s public disavowal begs the question of whether the asset building field risks losing further momentum after her change of heart.

The good news is that Hilary Clinton is offering new savings plans that would match every 401(k) retirement account up to $1,000 annually. Here’s hoping this proposal has a longer shelf life!