Giuliani attacks Clinton over $5,000 baby bond

Former New York City Mayor Rudy Giuliani attacked New York Sen. Hillary Clinton Friday for entertaining the idea of giving every newborn child a $5,000 bond.

Speaking at the American's for Prosperity Foundation Summit, the Republican White House hopeful criticized Clinton’s proposal for its high cost and said such a suggestion shows the Democratic presidential candidate’s lack of executive experience.

"Do you know the first question I asked? ‘How many children are born in the United States?’ Because, I was going to multiply that by the $5,000,” Giuliani said. “Because I ran a city. I've run a business. I know how to make a payroll and I know how to reduce expenses. ‘Do you know how much money it is per year?’ Twenty billion."

“Hillary, that's real money," he added. "You and Bill can't afford that. It's got to come out of somebody's pockets. You know who it comes out of?”

Giuliani went on to criticize Clinton, as well as fellow Democratic White House hopefuls Barack Obama and John Edwards charging that they are seeking "on-the- job executive training."

"In the case of the three leading Democrats, [they] have never run a city, they've never run a state, I don't think they've ever run a business," Giuliani said. "This is why they make proposals like this."

At a forum hosted by the Congressional Black Caucus last week, Clinton said, "I like the idea of giving every baby born in America a $5,000 account that will grow over time, so that 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 make that down-payment on their first home."

Speaking to supporters in Chicago Thursday night, Clinton said that the proposal was only an "idea" not a policy of her presidential campaign.

"I was just trying to start a conversation, which I think is an important conversion, about how we make sure children from middle class, working families, poor families, have access to all the opportunities in life that many of us try to provide for our own children," she said. "So I am looking for a conversation and that was just an idea I threw out to see what kind of reaction I'd get."