It may work, it may not. But what we're (the US) doing now isn't working.
[1] Though from the same people you'll hear that work provides so much meaning to life that if people aren't working because they can live without it that they'll just be miserable. Which seems to contradict itself, either work is so meaningful that without we're miserable so we'll work even if we don't have to. Or it's not that meaningful and we'll be fine without it.
Yes, you do. BI will change mating patterns and child-rearing patterns and the consequences of those changes will not show up for a generation or two.