Our nation’s accountants can’t keep assuming our demographic decline away, and our nation’s leaders need to realize that family problems are fiscal problems.
Children are not being born in sufficient numbers to prevent the population from shrinking. But federal bookkeepers who track our nation’s finances are in denial about it. The birth dearth is a ticking financial time bomb that will hurt everyone unless our demographic decline is reversed.This is mostly attributable to higher economic growth.
That 1.9 is still below the 2.1 needed for the population to replace itself and not fall, but it is far more optimistic than the reality of 1.62. The trustees explained that they used 1.9 because “historically, birth rates in the United States have fluctuated wildly.” But a quick look at anyshows a steady decline in birth rates starting at the end of the baby boom to a previous low of 1.76 births per woman in 1976.
The trustees acknowledged the link between marriage and fertility in their report, writing, “Since the baby-boom era, women have had higher educational attainment, higher labor force participation, an older average age at first marriage, and a higher propensity to remain unmarried. All of these factors are consistent with continued lower total fertility rates.”
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