I swear I do not know where you guys are getting these numbers from.  You all are saying it costs $1000+ a month to raise a kid and I can tell you that that is FALSE unless you are unable to control yourselves.  

Formula is the biggest waste of time and money and of all the weak, whimpery allergy prone asthmatic kids I have ever run into, NONE of them were breastfed.  

Give the kiddy the titty and save yourselves grief and money.

About 1/3 of that is more realistic.  You don't need "new" designer baby clothes for $45-60.00 a sleeper.  The kid doesn't need shoes for two or three years...moccasins are great and you can make those.   If you hold the kid instead of sticking them in a plastic bucket and seat and carrier and stroller, you saved alot there.  For the first 10 years of my 3 boys lives I don't thing we made $18K between us (and we lived on cash and went year to year without debt).    The kids never knew they were poor...they were happy and had parents that loved them.  
Omit baby sitters and day care and you save an enormous amount.  
Once you have kids, it is no longer "you, doing your own thing" (and they are dragged along).  

 That is the best time of a person's life if you re-focus...

Do all you guys get free medical insurance coverage for your baby?
In most company plans I've seen you pay between $200 to $450 per month to cover your baby.