Pros and cons of professionalizing day care are explored within the context of Reagan administration policies affecting day care services and caregivers. Eight fundamental characteristics of professions are discussed from two different perspectives. The first perspective points out advantages of professionalization for day care providers; the second indicates ways professionalization can work against the interests of caregivers. Characteristics of professions discussed include (1) possessing a systematic knowledge base, (2) meeting perceived needs of the public, (3) instructing candidates for induction into the profession, (4) controlling entry into training, (5) granting professional status, (6) monitoring conduct of members, (7) providing lifelong career options, and (8) providing the organizational structure for activities. Additional topics discussed include the politics and costs of professionalization, block grants, and federal day care regulation. An alternative to professional status, child caregiving as a craft, is explored in closing paragraphs of the paper. It is concluded that viewing caregiving as a craft built upon the structural components of professions may agreeably reconcile the positive and negative aspects of professionalizing day care. (RH)