Don't try to cash this one in

(Rudy Giuliani campaign)

A fake version of a Hillary Clinton "baby bond."

If Rudy Giuliani gets his way, Americans will never see one for real.

So his campaign today issued a tongue-in-cheek facsimile of a $5,000 Hillary Clinton "baby bond" as he ridiculed the idea.

Clinton, the Democratic front-runner, last week suggested giving every baby born in America $5,000 to start an account that could eventually be used for college tuition or a down payment on a first home. She said the "baby bonds" would help middle-class families struggling to make ends meet. Her campaign cautioned, however, that it was more of an idea under consideration than a formal proposal.

In a speech today to an anti-tax group in Washington, Giuliani called it a prime example of Democrats free-spending ways.

As he savaged the idea, the Republican presidential contender even managed to get a call-and-response going with the crowd of 1,500 or so, according to a transcript provided by his campaign.

Giuliani: "The first moment I heard Hillary wants to give away $5,000 bonds to every child born in the United States, 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. 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? $20 billion."

Audience: "Oooooh."

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

Audience: "Mine."

Giuliani: "Yours, mine, hardworking Americans. Hard-earned tax dollars. $20 billion? And it's going to be more than that, because we're going to have to add to that the cost of the large bureaucracy that's going to have to print up the bonds, right? With Hillary's picture on them. You have to print up the bonds. You got to mail them out to all 4 million kids, right? You may just have to check and make sure you're getting valid birth certificates."