Family Economics 101 – How Broken Families Are Killing Our Economy

“All families have disagreements and conflicts from time to time. The question is: How do we resolve our disagreements? Pretending like they didn’t happen is not the answer. It’s important for family members to discuss their problems with respect for each other. Conflicts are never settled if we are not willing to listen to the other person. It’s really okay to disagree. Good people often do. To disrespect other people simply because they disagree is never in order. However, many times we may not be willing to listen to what the other person really thinks or feels. The disagreement could be nothing more than misunderstanding.”

Broken Family

With all the talks about our debt ceiling, government spending, and the floundering economy, the fiscal state of our nation is on everyone’s mind.

How did things get so messed up?

Well, aside from the sub-prime mortgage debacle, I think there is another issue that is undermining our financial well-being as Americans: the breakdown of the traditional family.

Less than half of children in America today live in in-tact families – that is, with parents in their first marriage. And yet research has proven that financial well-being is vastly improved when people stay married.

According to Patrick Fagan of The Heritage Foundation, divorced households typically see a forty percent drop in income – larger than the drop in income the national economy experienced during the Great Depression. For single parent households, the median income is even less. 92 percent of children on welfare today come from broken homes.

Is it possible our financial instability as a nation is due, in some part, to the breakdown of the traditional family?

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