The NewsWorthy Special Edition: Baby Bonus or Bust? 'Trump Accounts' & Cost of Kids
Jul 19, 2025
In this discussion, Jane Waldfogel, a prominent scholar in family and social policy, dives into the significant decline in U.S. birth and fertility rates. She examines how public policies influence family decisions, particularly the new 'Trump accounts' initiative aimed at encouraging family growth. The conversation also highlights the socio-economic factors impacting these trends, comparing them with international approaches to child care and family support. Waldfogel cleverly critiques the shift from direct cash grants to savings accounts, questioning their real effectiveness.
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U.S. Fertility in Global Context
- The U.S. birth rate is declining but still higher than other wealthy countries in the OECD.
- The fertility decline isn't as severe a crisis in the U.S. compared to other nations.
Population Balance and Economy
- A balanced population needs a mix of working-age people and dependents for sustainability.
- Declining birth rates threaten Social Security, Medicare, and national budget balance.
Fewer Babies and Climate Impact
- Some view declining birth rates positively due to climate change and finite resources.
- Fewer children reduce resource use and environmental impact.
