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Society has become outright hostile to parents. Cost is a major reason, but far from the only one.
The future does not look too promising.
Yes.
You can't let them explore on their own to build independence and confidence without CPS being called on you.
When kids misbehave in public, all the boomers get their panties in a wad. My parents get flustered when the grandkids get loud playing together in a back bedroom.
Getting kids launched well in life, with some chance of adult prosperity, requires thousands and thousands of dollars in private clubs/ competitions/ tutoring/ schools/ etc - the highly competitive nature of the US economy has reached down into elementary aged children at this point. Where I live, people even pay for tutoring to get their children into GT programs.
It doesn't help that the state of schooling and instruction here has grown abysmal, largely non-functional.
Kids, on average, aren't learning shit here.
While "preparing for" and entering the economy of today and tomorrow. Things are grim.
Financial demands on parents have increased, but so have non-financial demands.
Unless you have a lot of support from extended family (which also means that you live near them), I really don't see how parents do it.