I think in some ways it might actually be better than a two income family, there would be less money for luxuries and so that might help a family to form bonds with eachother rather than escape into fantasy via television, computer games etc.. that happens a lot these days.
I am one of 5 children and while my mother had occasional part time work for the majority of my childhood we survived on my fathers income as a school teacher and so they were lean years, I look at people I've known who had less financial struggles within their family growing up and sometimes they are more selfish and generally driven by material desires, to the point where the idea of simpler things strikes them as boring because when younger they always had something better to do or to play with.
You do need to cut corners but there's nothing wrong with that, it's character building, some modern parents might consider getting some welly boots on and growing their own vegetables cutting corners but to me that's the way it should be done.
Kids are definetly suffering by being put in childcare through their younger years, without trying to be judgemental or make a balnket statement I think it is wrong to have a child and then go back to a career, that commitment goes far into the future and I think coroprate daycare only assists in the dismantling of a family because it gives parents who should be at home with the kids a way to essentially avoid that and let someone else do it, why have kids and then let somone else raise them for 8 hours a day, it's crazy, one parent should always be at home, whichever one it is.
