U.S. Births, Immigration May Ease Pressures on Social Security
Jan. 18 (Bloomberg) -- Tara Trent of Lake Geneva, Wisconsin, has three girls, with another child on the way in June. The 31-year- old homemaker and her husband, Ken, talk of having a fifth baby. Big families aren't unusual in the neighborhood, she says.
``Ken says we're not going to have any workforce later,'' Tara says with a laugh. ``So we've got to pump these kids out to take care of us.''
The Trents are part of a demographic phenomenon in the U.S. unmatched in any of its major trading partners: Americans are having more babies. The trend, combined with an annual inflow of immigrants that is more than the rest of the developed world combined, may undercut a key argument behind President George W. Bush's plan to allow private Social Security accounts: that the current system faces an emergency because of a sharp decline in the size of the future U.S. workforce.
Even Newt Gingrich, the Republican former speaker of the House of Representatives and a supporter of private accounts, says, ``The combination of higher birth rates and more immigration makes the United States the healthiest of developed nations. This is not a crisis.''
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