Regular HOTLINE readers know that we are very worried about the trend of a population implosion driven by declining birth rates. This is a bigger threat to our future than the national debt. The birth rate has fallen in half over the last 50 years. Why is it happening?

One major contributor to America’s low birth rates is that young people aren’t getting hitched anymore. In 1960 the average male was 23 years old when first married. Now, that median age is 30. For women, the median age of marriage has risen from 21 to 28. That means women have fewer years for childbirth.

In 1950, roughly two of three women over the age of 18 had taken wedding vows, versus slightly less than half today. 2024 was the first year in American history where less than half of women were married.

The Economist notes a related troubling trend:

“Among Americans aged 25-34, the proportion living without a spouse or partner has doubled in five decades, to 50% for men and 41% for women. Since 2010, the share of people living alone has risen in 26 out of 30 rich countries.”

What does all this have to do with the economy? Nations with declining populations don’t grow their economies. Love and marriage are also generally associated with happiness and productivity. A nation that lives alone and without children is a prescription for economic and social disaster.