John Kerry: “Now, when I see chapter 1 unfunded, or I see urban centers where they don't have computers, and I see so many kids in so…”

“Now, when I see chapter 1 unfunded, or I see urban centers where they don't have computers, and I see so many kids in so many parts of the country whose families can't afford any of the amenities that make a difference, I find it very hard as a matter of choice to suggest that even that 50 percent is appropriately spent. Now, I am not arguing with the Senator. I am not suggesting to him or saying that some family in public school may not benefit from this. I understand some public schools have uniform codes and a parent may be able to go buy a portion of the uniform. I don't know how much $7 a year is going to do. If you are doing it K through 12, that is the interest. The only benefit under the Finance Committee rule is the tax benefit of the tax-free interest savings. So you can withdraw the money you have put into the savings account, but all you are really getting the benefit on is the tax-free component. Say you put $500 in there and you have to draw it out in 2 years at 6 percent, or 5 percent, which is what they are earning nowadays--these things aren't even marketable; none of the major houses are marketing them, so you are going to earn base interest on it and you are not going to get much money as a consequence of that. So when you have very few resources, I say to the Senator, what is the justification?”