It's not new news that the economy is in terrible shape and a recession has already started. The stock market is falling, jobs are hard to get, unemployment is raising and the cost of living is far exceeding any kind of raises people are earning. Does the tough economy result in more babies being placed for adoption within the US? Are couples or women who are pregnant facing such a difficult time financially that they have no option then to place their baby for adoption?
I think, (and this is my personal opinion) that the US may see a SLIGHT increase in the number of babies placed for adoption as a result of the economy. During the great depression, it wasn't uncommon for people to drop off children at orphanages because they could not longer afford to feed and care for them. I don't envision things getting that bad, but I think the economy may make adoption an option to be considered for more women than we have seen in recent years.
On the flip side, many couples hoping to adopt may not have the funds available. Stocks and 401Ks that they were depending on to pay for adoption are now worth about half of what they were last year. Home equity lines of credit and personal loans are not so easy to get. The lack of availability of funds and uncertainty about their own financial future, may force some couples to hold off on adoption or not to pursue adoption at all-simply because they can't afford it. Even the tax incentives offered by the government are not nearly enough to cover most domestic adoptions.
In the end, everything will balance out-it always does. Slightly less couples may be hoping to adopt and slightly more babies may be placed for adoption. Hopefully this means that couples are matched sooner and that wait times for both agency and independent adoption are reduced. We can hope!
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