Tags: millennial | Rampell | WaPo | baby bust

WaPo: Baby Bust Threatens Benefit Programs for Elderly

Tuesday, 05 May 2015 01:26 PM

The millennial generation isn’t having enough babies to support government social programs for older people, according a Washington Post columnist.

Millennials, the generation born after 1980 that began to enter adulthood after the turn of the millennium, started having fewer kids after the Great Recession. That demographic shift will have long-lasting repercussions, said Catherine Rampell, an opinion writer for the newspaper.

“For economic reasons – including cultivating the next generation of Americans to work and pay for the benefits of their many, many elders – we still need more babies,” she said in a May 4 column that highlights data from the Urban Institute. “Preferably, these will be babies born with wedlock, if for no other reason than the greater financial stability usually associated with having two married parents.”

Birthrates among women in their 20s fell more than 15 percent between 2007 and 2012, as the U.S. economy suffered its steepest decline since the 1930s. Birth rates also fell during the Great Depression, with 22 percent of women who reached adulthood then never having kids, according to research cited by Rampell.

The current baby bust means that 500,000 fewer kids are being born every year than if the prior trend had continued.

“If we want millennials to achieve all the traditional milestones of adulthood – for moral, sentimental or economic reasons – we have give them the financial opportunities to responsibly do so,” Rampell said. “That achievement, alas, still feels like a long way off.”

The Urban Institute report said women are having babies at the slowest pace in U.S. history.

“"If these low birth rates to women in their twenties continue, the U.S. might eventually face the type of generational imbalance that currently characterizes Japan and some European countries, but it is too early to predict or worry about that eventuality," the report said.

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The millennial generation isn't having enough babies to support government social programs for older people, according a Washington Post columnist. Millennials, the generation born after 1980 that began to enter adulthood after the turn of the millennium, are having fewer kids.
millennial, Rampell, WaPo, baby bust
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2015-26-05
Tuesday, 05 May 2015 01:26 PM
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