The 1992 Clinton Campaign made famous the phrase, "It's the economy stupid". It was his theme for defeating President George Bush Sr.
I think a modified phrase, "It's the children stupid" applies to an analysis of the future well-being of our society.
I know folks on the left love to trumpet children to expand spending on social programs though many of the initiatives are often anti-children, e.g. pro-abortion policies and funding kill unborn children, birth control advocacy results in fewer children, and gay "marriage" intentionally denies what children need most - both their mom and their dad in their lives. 
Ross Douthat conservative columnist with the New York Times has an i
nteresting article on the declining birth rates in the US, "More Babies, Please."
First, the US's birth rate has geopolitical implications. 
In the eternally recurring debates about whether some rival great power 
will knock the United States off its global perch, there has always been
 one excellent reason to bet on a second American century: We have more 
babies than the competition.        
It’s a near-universal law that modernity reduces fertility. But compared
 with the swiftly aging nations of East Asia and Western Europe, the 
American birthrate has proved consistently resilient, hovering around 
the level required to keep a population stable or growing over the long 
run.        
America’s demographic edge has a variety of sources: our famous 
religiosity, our vast interior and wide-open spaces (and the 
four-bedroom detached houses they make possible), our willingness to 
welcome immigrants (who tend to have higher birthrates than the 
native-born).        
It implicates economic growth.
And it clearly is an edge. Today’s babies are tomorrow’s taxpayers and 
workers and entrepreneurs, and relatively youthful populations speed 
economic growth and keep spending commitments affordable. Thanks to our 
relative demographic dynamism, the America of 50 years hence may not 
only have 
more workers per retiree than countries like Japan and Germany, but also have more than emerging powers like China and Brazil.        
 But now it's dropping dramatically. 
If, that is, our dynamism persists. But that’s no longer a sure thing. 
American fertility plunged with the stock market in 2008, and it hasn’t 
recovered. Last week, the Pew Research Center reported that 
U.S. birthrates hit the lowest rate
 ever recorded in 2011, with just 63 births per 1,000 women of 
childbearing age. (The rate was 71 per 1,000 in 1990.) For the first 
time in recent memory, Americans are having 
fewer babies than the French or British.        
The plunge might be temporary. American fertility plummeted during the 
Great Depression, and more recent downturns have produced modest dips as
 well. This time, the birthrate has fallen fastest among foreign-born 
Americans, and particularly among Hispanics, who saw 
huge amounts of wealth evaporate
 with the housing bust. Many people may simply be postponing 
childbearing until better times return, and a few years of swift growth 
could produce a miniature baby boom.        
 Immigrants won't fill the gap. 
But deeper forces than the financial crisis may keep American fertility 
rates depressed. Foreign-born birthrates will probably gradually recover
 from their current nadir, but with fertility in 
decline across Mexico
 and Latin America, it isn’t clear that the United States can continue 
to rely heavily on immigrant birthrates to help drive population growth.
        
Among the native-born working class, meanwhile, there was a retreat from
 child rearing even before the Great Recession hit. For Americans 
without college degrees, economic instability and a shortage of 
marriageable men seem to be furthering two trends in tandem: more women 
are having children out of wedlock, and fewer are raising families at 
all.        
 Then he discusses why it's happening. 
Finally, there’s been a broader cultural shift away from a child-centric
 understanding of romance and marriage. In 1990, 65 percent of Americans
 told Pew that 
children were “very important”
 to a successful marriage; in 2007, just before the current baby bust, 
only 41 percent agreed. (That trend goes a long way toward explaining 
why gay marriage, which formally severs wedlock from sex differences and
 procreation, has gone from a nonstarter to a no-brainer for so many 
people.)        
 What can be done to change it, by the government?  Some things but the problem goes much deeper. 
Government’s power over fertility rates is limited, but not nonexistent. America has
 no real family policy
 to speak of at the moment, and the evidence from countries like Sweden 
and France suggests that reducing the ever-rising cost of having kids 
can help fertility rates rebound. Whether this means a more 
family-friendly tax code, a push for more flexible work hours, or an 
effort to reduce the cost of college, there’s clearly room for creative 
policy to make some difference.        
  Then he points out that low birth rates are a symptom of -- decadence. 
More broadly, a more secure economic foundation beneath working-class 
Americans would presumably help promote childbearing as well. Stable 
families are crucial to prosperity and mobility, but the reverse is also
 true, and policies that made it easier to climb the economic ladder 
would make it easier to raise a family as well.        
Beneath these policy debates, though, lie cultural forces that no 
legislator can really hope to change. The retreat from child rearing is,
 at some level, a symptom of late-modern exhaustion — a decadence that 
first arose in the West but now haunts rich societies around the globe. 
It’s a spirit that privileges the present over the future, chooses 
stagnation over innovation, prefers what already exists over what might 
be. It embraces the comforts and pleasures of modernity, while shrugging
 off the basic sacrifices that built our civilization in the first 
place.
Such decadence need not be permanent, but neither can it be undone by 
political willpower alone. It can only be reversed by the slow 
accumulation of individual choices, which is how all social and cultural
 recoveries are ultimately made. 
 Strong words but it's important we face these developments square on.