An America with Fewer Children Is a Poorer and Lonelier America

November 15, 2023 | Washington Examiner
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According to the latest projections released by the Census Bureau, deaths in the U.S. will outpace births by 2038, and the American population will begin to shrink in absolute numbers by 2080. The editors of the Washington Examiner comment:

[A] declining population only brings pain in the form of weak economic growth, impoverished young families, and lonely adults. On the economic side, the older a population is, the fewer workers there are to support those too old to work. This means that any productivity achieved by the overall economy is consumed by retirees, not younger workers.

Older people also require more services, such as healthcare and housecleaning, but fewer goods, such as cars and computers, than younger people. This means more spending on low-wage service sectors and fewer investments on infrastructure and manufacturing, sectors that have long provided high stable wages to support young families. Additionally, most innovations come from younger people, so the older a society is, the less innovative it is and more prone to stagnation and recession.

We can reverse our population decline by increasing marriage. We just need to find the political will to do so.

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