Marriage?? Young Americans Aren't Even Shacking Up

Marriage?? Young Americans Aren't Even Shacking Up

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By Millie Dent

You’ve probably heard that marriage among young adults has been on the decline, but a new Gallup poll finds that the percentage of 18-to-29-year-olds living with a partner has flatlined in recent years.

“This means that not only are fewer young adults married, but also that fewer are in committed relationships,” Gallup’s Lydia Saad wrote Monday. “As a result, the percentage of young adults who report being single and not living with someone has risen dramatically in the past decade.” 

Related: The Bad News About All the Singles in America

That percentage has risen from 52 percent in 2004 to 64 percent last year, Gallup says. The data doesn’t necessarily mean young adults are avoiding relationships entirely. Young people are just less likely to make a serious commitment associated with moving in together.

The trend hasn’t carried through to Americans in their 30s, who are only a bit more likely to be single than they were a decade ago. Marriage among people in this age group has also declined in popularity, but the percentage of 30-somethings living with a partner has jumped from 7 percent to 13 percent.

 

The new data suggests that, if young people don’t feel ready for marriage, they may not feel up for long-term commitment yet, either. (In some cases, that may be because they’re still living with their parents.) “This doesn't necessarily mean young adults are staying out of relationships, just that they are less likely to be making the more serious commitment associated with moving in together — whether in marriage or not,” Saad wrote.

The societal question, she said, is whether those single 20-somethings stay that way into their 30s. A Gallup poll from 2013 suggests that young adults may not be avoiding marriage altogether, but are just pushing it back. In that survey, 56 percent of Americans aged 18 to 34 said they were unmarried but did want to tie the knot at some point. Only 9 percent in the same age group said they were unmarried and wanted to stay that way. The most common reasons people listed for not being married yet included having not found the right person, being too young or not ready to get married and money concerns.

In other words, they might someday say “I do,” but for now they definitely don’t.

Tax Refunds Rebound

Flickr / Chris Potter
By The Fiscal Times Staff

Smaller refunds in the first few weeks of the current tax season were shaping up to be a political problem for Republicans, but new data from the IRS shows that the value of refund checks has snapped back and is now running 1.3 percent higher than last year. The average refund through February 23 last year was $3,103, while the average refund through February 22 of 2019 was $3,143 – a difference of $40. The chart below from J.P. Morgan shows how refunds performed over the last 3 years. 

Number of the Day: $22 Trillion

iStockphoto/The Fiscal Times
By The Fiscal Times Staff

The total national debt surpassed $22 trillion on Monday. Total public debt outstanding reached $22,012,840,891,685.32, to be exact. That figure is up by more than $1.3 trillion over the past 12 months and by more than $2 trillion since President Trump took office.

Chart of the Week: The Soaring Cost of Insulin

Client Sanon has her finger pricked for a blood sugar test in the Family Van in Boston
REUTERS/Brian Snyder
By The Fiscal Times Staff

The cost of insulin used to treat Type 1 diabetes nearly doubled between 2012 and 2016, according to an analysis released this week by the Health Care Cost Institute. Researchers found that the average point-of-sale price increased “from $7.80 a day in 2012 to $15 a day in 2016 for someone using an average amount of insulin (60 units per day).” Annual spending per person on insulin rose from $2,864 to $5,705 over the five-year period. And by 2016, insulin costs accounted for nearly a third of all heath care spending for those with Type 1 diabetes (see the chart below), which rose from $12,467 in 2012 to $18,494. 

Chart of the Day: Shutdown Hits Like a Hurricane

An aerial view shows a neighborhood that was flooded after Hurricane Matthew in Lumberton, North Carolina
© CHRIS KEANE / Reuters
By Michael Rainey

The partial government shutdown has hit the economy like a hurricane – and not just metaphorically. Analysts at the Committee for a Responsible Federal Budget said Tuesday that the shutdown has now cost the economy about $26 billion, close to the average cost of $27 billion per hurricane calculated by the Congressional Budget Office for storms striking the U.S. between 2000 and 2015. From an economic point of view, it’s basically “a self-imposed natural disaster,” CRFB said. 

Chart of the Week: Lowering Medicare Drug Prices

A growing number of patients are being denied access to newer oral chemotherapy drugs for cancer pills with annual price tags of more than $75,000.
iStockphoto
By Michael Rainey

The U.S. could save billions of dollars a year if Medicare were empowered to negotiate drug prices directly with pharmaceutical companies, according to a paper published by JAMA Internal Medicine earlier this week. Researchers compared the prices of the top 50 oral drugs in Medicare Part D to the prices for the same drugs at the Department of Veterans Affairs, which negotiates its own prices and uses a national formulary. They found that Medicare’s total spending was much higher than it would have been with VA pricing.

In 2016, for example, Medicare Part D spent $32.5 billion on the top 50 drugs but would have spent $18 billion if VA prices were in effect – or roughly 45 percent less. And the savings would likely be larger still, Axios’s Bob Herman said, since the study did not consider high-cost injectable drugs such as insulin.