The “Putin Price Hike” is so old-fashioned. Been there, done that.
Axios channeling “experts” is promoting the Supreme Court’s abortion ruling as the cause of future economic troubles:
“Experts warned that the U.S. will see devastating economic consequences from the Supreme Court’s decision to overturn Roe v. Wade.”
Axios’ story ‘reports‘:
The U.S. will see devastating economic consequences from the Supreme Court’s decision to overturn Roe v. Wade, experts warned on Friday.Why it matters: The landmark Turnaway Study found that women who have to carry an unwanted pregnancy were four times as likely to struggle with poverty years later. Raising a child costs over $230,000 on average, according to the Department of Agriculture.What they’re saying: “This decision will cause immediate economic pain in 26 states where abortion bans are most likely and where people already face lower wages, less worker power and limited access to health care. The fall of Roe will be an additional economic barricade,” Heidi Shierholz, president of the Economic Policy Institute, said in a statement.* * *The big picture: In an amicus brief submitted to the Supreme Court last year, 154 economists wrote that there is “a substantial body of well-developed and credible research that shows that abortion legalization and access in the United States has had — and continues to have — a significant effect on birth rates as well as broad downstream social and economic effects, including on women’s educational attainment and job opportunities.”
The abortion issue should not be viewed as an economic issue, it’s so much more. But if Axios wanted to focus on the economic impact of those declining birth rates, it might have mentioned the negative economic impact, as left-leaning 538 notes:
The U.S. fertility rate hit a record low in 2020 — just as it did in 2019, and 2018. Although the COVID-19 pandemic seems to have accelerated this decline, the drop has been underway for years. The total fertility rate — the average number of children a woman is expected to have over her lifetime — now sits at 1.64 children per woman in the U.S. Not only is this the lowest rate recorded since the government began tracking these stats in the 1930s, but it’s well below the so-called “replacement-level fertility” of about 2.1.
The latter number is what social scientists and policymakers have long regarded as the rate a country should maintain to keep population numbers stable. When the fertility rate falls below replacement level, the population grows older and shrinks, which can slow economic growth and strain government budgets. Today’s babies are tomorrow’s workers and taxpayers: They’ll not only staff the hospitals and nursing homes we’ll use in old age but also sustain the economy by funding our pensions when we retire, paying the taxes that finance Social Security, Medicare, and many other government programs we’ll rely on, and buying the homes and stocks we invested in to build our savings.
Regardless of which side you are on, abortion and the SCOTUS ruling should not be about dollars. But that’s where the Axios’ “experts” are taking it, and it’s fair to assume that will be part of the anti-SCOTUS talking points.
I think this tweet correctly predicts the next Biden administration (probably via proxies like Axios’ “experts”) post-Putin Price Hike theme:
“The Putin-Dobbs Price Hike”
Sounds unlikely? Wait for it.
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