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The high cost of parenting

August 05, 2009|Times Wire Reports

It's no secret that raising children can be expensive, but how about nearly a quarter of a million dollars?

A new government report says a middle-income family with a child born last year will spend about $221,000 raising that child through age 17.

The report by the Agriculture Department's Center for Nutrition Policy and Promotion identified housing as the largest single expense, followed by food and child care/education. The $221,000 in expenses rises to about $292,000 when adjusted for inflation.

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