How Timing, Affordability and Politics Could Trigger the Next Baby Boom

Family building in the United States has an interesting paradox. On the one hand, we saw continued decline in US birth rates due to a combination social and economic trendswhich causes many women to delay, limit or even refuse to have children. However, even though the birth rate has reached an all-time low, a recent Pew Research Center study found that 51 percent of young people who are not actually parents yet do one day I want children. Only 18 percent of young people surveyed said they did not want children at all. A recent Gallup poll found that Americans believe in an ideal family includes three or more children, This view has grown steadily in recent years and is now at its most widespread level of agreement since 1971. Will America soon experience a second baby boom?

The baby boom between 1946 and 1964 was attributed to many factors: soldiers returning home with a desire to settle down, economic optimism in the post-World War II economy, and lower female labor force participation rates following mass mobilization during the war years. . Another contribution was the bipartisan GI Bill of 1944, which stimulated job creation and home ownership. The resulting baby boom reversed a century of fertility decline. Today we live in a different economic and political era. There are several new factors emerging that could lead to an impending baby boom—unlike the first one. They are about unlocking pent-up demand from people who want children but are on hold for the two most commonly cited reasons: time and availability. Even in our divided country, the rising U.S. birth rate is a clear bipartisan issue, as both political parties rush to propose solutions in the upcoming 2024 presidential election.

Timing as a reason for delaying parenthood

Many women delay childbearing in pursuit of higher education, career advancement, and other personal and professional goals. Accordingly, the rate of fertility conservation increases with Increase in egg freezing cycles by 30 percent compared to last year. Soon these “egg jars” will be used. Respectively, The number of IVF procedures has also increased sharply. as women start families at a later age. Until now, these options have been available to few people—those with progressive employer benefits and those with access to fertility financing solutions. But the governor of California Gavin Newsome just passed law requiring insurers to cover IVF treatment costsThis means our nation’s most populous state could get bigger. The Alabama Supreme Court’s ruling in February that embryos created through IVF should be considered children has generated significant backlash. Governor of Alabama Kay Ivey signed the bill a few weeks later providing providers and recipients of IVF services with both civil and criminal immunity. As the political winds shift in favor of women’s health, even the Trump campaign I support this idea at the national level.

In addition to impending government aid, investment in reproductive technologies is also growing. Venture capitalists have been pouring money into fertility startups for years, investing colossal sums. $874 million in 2023 one. These venture capital-backed startups include a chain of fertility clinics. good bodyegg freezing and third party reproduction platform Cofertilityand fertility finance benefits such as Future family And Proginia. Never before have Americans had so much choice, support or financial assistance to start a family. deadlines. And as the high growth rates of these companies show, they are taking advantage of it.

Availability as a reason for delaying parenthood

Today’s parents spend about $240,000 on each child from birth to 18 years of age, spending on average a fifth of their annual income on child-related expenses. Childcare costs are especially prohibitive before primary school starts, causing some parents to quit their jobs. The United States is the only rich country without federal paid parental leave. Having children can be an expensive, time-consuming and physically taxing experience—enough to discourage would-be parents from growing their families. The US Surgeon General even issued advisory about mental health and parenting wellbeing this year.

Both Democrats and Republicans can agree that starting a family should once again become attractive to young Americans. AAnd not only for demographic reasons, but also for economic stability. Presidential elections in 2024 will be held for the first time programs for the whole family for example, baby tax credits, paid family leave, and affordable child care are taking center stage with bipartisan support—we’ve finally reached a tipping point. As the Federal Reserve begins lower interest rates To stimulate the labor market and investment activity, we are once again entering a period of economic growth. Combined with the pent-up desire to start a family and the full list of fertility decisions and incentives that can unleash it, we may once again be on the cusp of a unique set of conditions parallel to those that created the baby boom of 1946-1964.

Despite significant advances in the medical field, one area has remained constant—the U.S. approach to maternal health. Unlike peer countries, America is in the midst of maternal health crisis due to an ineffective and outdated system in which women often receive incomplete, one-size-fits-all, responsive care. Our maternal mortality rate exceeds that of comparable countrieswith more than 50,000 additional misses per year. Results are much worse for mothers of colorwith a mortality rate three to four times higher than that of whites. Rates of preterm birth, intensive care unit stays, and maternal depression are also high in the United States. These statistics come amid a severe shortage of OB/GYNs nationally and hospitals closing their maternity units due to the stagnant economy, with 36 percent of U.S. counties experiencing designated as “maternity care deserts.”

There is an urgent need to rebuild the maternal health system. Our existing infrastructure is ill-equipped to support the influx of pregnancies and births. We must work together—policymakers, health care providers, investors, families and communities—to improve maternal health care and make it more accessible and affordable for all families. We are making progress: many states are expanding programs to expand access to midwives, doulas and postpartum care. We are on the cusp of a new era of family building in America. But it takes a village to get there.