Folks often ask me why I spend so much time on this show talking about birth rates.
Here’s a big reason: our nation’s budget is bleeding red ink. The Congressional Budget Office estimates a $1.8 trillion deficit for the latest fiscal year. That’s a lot of zeros.
Social Security and Medicare costs jumped 6 percent. Interest payments? They’re skyrocketing too. And this is happening while our government says times are good—unemployment is low. Imagine what happens when a recession hits. “Yikes” is right.
But here’s what’s strangest to me: We’re a month out from a presidential election, and I haven’t heard a peep from the candidates about this. Both political parties are promising even more spending and likely more money printing, another topic I often cover. Both the Biden administration and the Trump administration printed more money than almost any administrations in history. And Vice President Harris recently said she wouldn’t change a thing about the current administration’s policies.
How did we get here? Neither political party seems to care about this. It’s like watching a family max out their credit cards while planning a lavish vacation.
Some experts are predicting a market crash soon because of all this, though who knows? If you search YouTube for “market crash,” you’ll find the same financial gurus predicting it tomorrow for the last 15 years.
So, you’re probably wondering what this has to do with birth rates. Simple. We’re heading toward serious economic turbulence—not just next month, or next year, but probably for a while. With fewer workers, our societal systems are under threat. It’s clear to me, at least, and it’s just over the horizon.
As our nation ages, those fewer workers will be supporting more retirees. Something has to give.
Maybe AI will save us, but that’s a big maybe. Whatever happens, we’ve got to rethink how this system works.
Here are a few things to ponder: If our spending habits mimic a family’s, how long before we face a financial reckoning? Would a shift in our fiscal approach make a difference? And am I wrong here? Do you see what I see economically?
The question I keep coming back to is: What sacrifices are we willing to make? I don’t know, but it’ll be fascinating to see.
That’s a lot of questions. Here’s another: What do you think? Let me know in the comments, and support my work at JamesBrownTV.substack.com.
On that note, I’m James Brown. As always, be well.
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