"Relaxed standards" did not cause our financial problems- it was the rise of third world countries taking good paying factory jobs away.
Reduced birth rates are a result of more effective birth control and the fact there is no need for large families and lots of kids now.
Back then kids were needed to supply labor for farms and to supplement family income before the era of child-labor laws:
Is this the wonderful era you want to return to?:
. . . . .