25th January 2005: The 'Ownership Society' helps all Americans enjoy greater financial independence. This, in turn, helps them to have greater ability to make more choices regarding major life events and also plan for them.

A survey reveals that about 40 percent of American families spend more than they earn. The cost of higher education is going up by leaps and bounds. Even housing costs are spiraling upwards by the day. So it is important that every American gets a financial boost. The 'Ownership Society' helps them do just that.

The basic plan is simple. The government will invest $6,000 for every child that is born in America. When the child turns 18, this fund will be worth $20,000 if the bond accumulates an interest at a rate of 7 percent.

The amount would go up to $45,000 by the time the child turns 30. Parents and other family members can contribute to a child's bond without paying any taxes.

The young people can collect this bond by dedicating a year or two of full-time military or domestic service to America and thus earn their civic stripes. Engaging in one year's full-time service between 18 and 30 years of age makes them eligible to access 50 percent of the bond. Two years full-time service will ensure that the rest of the bond is accessible.

This amount may be used to pay for higher education, towards down payment on a house, starting a small business or nonprofit etc. This way the American Dream would soon turn into a reality.