The American Demographic Cliff
Mar 16th, 2013 | By Dr. Jim EckmanOver the last few years, we have been bombarded with apocalyptic phrases such as ?fiscal cliff,? ?sequestration,? ?entitlement cliff,? and the persistent debt ceiling crisis. All of these are real issues and reflect the unwillingness of our governmental leaders to address the serious financial condition of America. But a recent article in the Wall Street Journal by Jonathan V. Last summarizes an even deeper crisis, one that captures one of the real causes of our nation?s financial crisis: A serious demographic cliff?the declining fertility rate in the United States. [The fertility rate is the number of children an average woman bears over the course of her life.] The fertility replacement rate is 2.1. Therefore, if the average woman has more children than that, the population grows; fewer children and it contracts.