In 1968, Paul R. Ehrlich published The Population Bomb, his sensational forecast of a world doomed by a population explosion. In it he flatly predicted: “In the 1970's and '80's hundreds of millions of people will starve to death in spite of any crash program embarked upon now.”
Not one of Ehrlich's predictions came to pass. Instead, the Supreme Court declared abortion on demand to be the law of the land in 1973, and launched the slaughter of 61.4 million American babies --not by famine and starvation, but by deliberate execution at the hands of a greedy abortion industry.
Worldwide, an estimated 1.5 billion babies have been aborted. And the social and economic cost has been as devastating as anything Ehrlich predicted based on his paranoid fears of a population explosion that never happened.
Currently, we estimate the cumulative loss from 61.4 million abortions to exceed $63 trillion in lost GDP and an annual 16.3% drag on the U.S. economy.
The Trump administration has energized a lagging economy through a combination of regulatory reform, tax cuts for business, trade deals and the promise of a 10% tax cut for middle class families, but it will still take decades for America to make up for the loss of the contribution of 61.4 million people to the economy over the last 50 years.
And that's not counting the echo effect of the loss of those people to future generations. Aborted babies don't have children, so their loss is echoed down the centuries. It took Europe 250 years to make up for the loss of 50 million people as a result of the Black Death around the year 1353, and that was a one-time event. The impact of abortion will continue long after we end it.
This was not something the Supreme Court even considered when it decided Roe v. Wade, yet we had an historic precedent in 1867 when abortion was prohibited or several limited in every state following a crusade by Dr. Horatio Storer and other doctors of the time. Even the New York Times ran a crusading series of articles exposing New York's abortion industry at the time.
However, if Dr. Storer had failed in his mission, America would likely have faced a 30% decline in births over the next 70 years -- and a 30% decline in its economic and industrial strength as well.
By 1940, it would have been impossible for us to fight and win World War II against Nazi Germany and Imperial Japan. Hitler might well have achieved his dream of a 1,000 Year Reich, and Japan would almost certainly have won domination of the Pacific from Australia to Manchuria, and Hawaii would never have become our 51st State.
Ideas have consequences, and bad ideas like abortion have tragic consequences. Even if we stopped all abortions tomorrow, we will still be living with its consequences for years to come. But the sooner we end it, the sooner America can thrive again.
The best example is the impact of the Baby Boom from 1945 through 1960, when Americans had 75% more births per family than they had during the Great Depression. The result was the greatest economic boom in our history. Without the enormous breakthroughs in electronics during the period, today's high tech revolution would have been impossible.
An Exchange with
Charles Payne, CEO
Wall Street Strategies
Charles Payne is CEO of Wall Street Strategies and host Fox Business News popular financial show, Making. He is also author of Be Smart, Act Fast, Get Rich. We like his down-to-earth, common sense approach to economic matters.
In a recent issue of his Wall Street daily newsletter, he wrote:
It's one thing to live in a false world of riches and another to live in a world that's not up to par with the rest of the nation. I've always bristled at politicians that have been able to buy off blacks and Hispanics with trinkets not much more valuable that the beads exchanged with the Manhattan Indians for what would become the most valued real estate in the world. Promises of higher minimum wage and bogus work programs seem to do the trick every time. Of course the close comes by slaying boogiemen that actually wanted to take away stuff like food stamps and welfare.
And so it continues with the latest pitch to the Hispanic community. After saying he has another five years to live up immigration promises, President Obama trumpeted other great achievements including:
Claims to "strengthening the economy" in part to the payroll tax that provides 25 million Latinos with an extra $40 in every paycheck.
Unemployment insurance extended because "Latino community has been hit so hard"- a million will benefit.
Housing settlement will help Latino families all across the country that were "taken advantage of by subprime lenders."
None of these one-offs is pro-growth, pro-business, or pro-prosperity. Really, forty bucks is all it takes to buy Hispanic votes? Many live in states where gasoline will eat that money up in a heartbeat. Moreover, when the President brags about $40.00 then heads off to a dinner that costs $30,000 per head there is a massive disconnect. Really, all subprime borrowers were taken advantage of and wasn't that settlement for foreclosures, not the types of loans taken out? Of course they were victims of the free market and none bought a house they couldn't really afford.
His comments inspired this response from us:
Your comments on the President's remarks to the Latino community reminds me of the one-sided deal when Peter Minuit bought Manhattan Island from the Lenape Indians for $24 worth of beads, trinkets and tools. The Lenape didn't realize they were simply stimulating the European appetite for taking over everything from the Hudson River to the Pacific.
What today's black and Hispanics minorities fail to realize is that all those golden promises of social benefits simply hide the huge economic loss those social programs will cost them down the line, starting with the bill their children and grandchildren will pay for putting these programs on the government credit card. But that's merely the tip of the iceberg.
In New York City, minority families pay for it in the downstream cost of a 60% abortion rate for blacks and a 40% rate for Hispanics. As a result, the Hispanic birth rate in the city is flat, while the black birth rate dropped in half between 1990 and 2010. Meanwhile, the Asian population is growing at a steady clip. As a result, New York is far more likely to have an Asian mayor in the next 20 years than it is to ever have another black mayor.
Far more serious, however, is the economic cost to future generations. Economic conservatives who brush off the economic cost of social issues are deluding themselves.
Just add up the losses in future GDP incurred by record high prison populations, 50% divorce rates, record numbers of children born out of wedlock, runaway STD rates, and 61.4 million abortions since 1967 -- and you have a huge hidden bill being passed on to the next generation.
My own analysis puts the GDP loss for abortion alone at $63 trillion, and it keeps climbing by $3 trillion every year because those future workers, producers, and taxpayers we aborted ain't ever coming back. Nor will they be here to birth another generation. If you include all those other hidden costs, you could easily double that in lost economic potential for the whole nation.
If economic conservatives want to ignore that, they can; but they do so at America's peril.
Meanwhile, it's nice tofind an analyst on Wall Street who understands that there is more to economics than taxes, spending, interest rates, and market fluctuations.
Without people and families, there would no such thing as economics. All the gold in the world would still be buried under mountains of dirt. If we'd like to survive for another 500,000 years, we need to remember that.
61.4 million abortions equal population of our 90 largest US cities
Huge difference in recovery rates from high/low abortion states
"The only thing necessary for evil to triumph is for good men to do nothing" -- Edmund Burke