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Why Daycare Is So Expensive In America
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Child care costs vary from state to state, even county to county. But there is one common thread across the country – it's really expensive. Both parents and child care providers are struggling to make ends meet with the rising cost of child care.
Raising a kid in America is expensive. The cost of child care has nearly tripled since 1990, which is more than the overall rate of inflation.
The price families pay varies from state to state, even county to county. But in many places, it costs more to send a toddler to day care than it does to pay for housing, transportation or even college tuition.
There is good reason child care is so expensive — it's a very involved, labor-driven industry.
But the tension around the cost of child care in the U.S. really boils down to who foots the bill. In countries like Denmark and Sweden, the government covers much of the child care costs. In America, the costs are generally shouldered by parents and providers.
Federal child care funding in the U.S. has been in a perpetual ebb and flow in response to cultural values. During World War II, the federal government came the closest it's ever been to having universal child care.
Now, with the 2020 election coming up, some candidates are making it a priority.
Watch the video above to learn about the history of child care in America and how rising costs are impacting families today.
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#CNBC
#ChildCare
#Daycare
Why Daycare Is So Expensive In America
Raising a kid in America is expensive. The cost of child care has nearly tripled since 1990, which is more than the overall rate of inflation.
The price families pay varies from state to state, even county to county. But in many places, it costs more to send a toddler to day care than it does to pay for housing, transportation or even college tuition.
There is good reason child care is so expensive — it's a very involved, labor-driven industry.
But the tension around the cost of child care in the U.S. really boils down to who foots the bill. In countries like Denmark and Sweden, the government covers much of the child care costs. In America, the costs are generally shouldered by parents and providers.
Federal child care funding in the U.S. has been in a perpetual ebb and flow in response to cultural values. During World War II, the federal government came the closest it's ever been to having universal child care.
Now, with the 2020 election coming up, some candidates are making it a priority.
Watch the video above to learn about the history of child care in America and how rising costs are impacting families today.
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
#CNBC
#ChildCare
#Daycare
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