When 140 Characters Isn't Enough
Demographics: Just as baby boomers are reaching retirement or fleeing the state, a dearth of children threatens to turn the Golden State into the golden years state with potentially dire economic consequences.
With an economy among the world's largest if it were a separate country, it in a sense still is, having already gone over its own fiscal cliff, beset by low growth, high taxes and regulations, an exodus of business and population, and a staggering debt of unfunded liabilities.
As the basic transformation of America promised by President Obama continues, California offers a glimpse into the future of what happens when governments operating on progressive socialist ideas start running out of other people's money. To make matters worse, California is about to run out of those "other people."
In 1970, children made up 33% of California's population, a number that's expected to shrink to just over a fifth by 2030, a report by the University of Southern California and the Lucile Packard Foundation shows.
That year California averaged about 21 seniors per 100 working age adults. By 2030, that number is predicted to rise to 36% of working age adults. This birth dearth means there will be fewer people pulling the wagon that state government is inviting more people to ride.
"These trends are not yet widely recognized, but they should be a wake-up call for policymakers," said Dowell Myers, lead author of "California's Diminishing Resource: Children," and a demographer at the University of Southern California.
Indeed, California, the world's eighth-largest economy, and the most populous state in the U.S., is going to shrink, the consequence of policies that has made it less and less a business-friendly state where families no longer can come to and thrive and prosper.
The state's birthrate fell to 1.94 children per woman in 2010, below the replacement level of 2.1 children, according to the study, and lower than the overall U.S. rate of 2.06 children in 2012.
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