The problem is that a single abduction is touted by the media as though 1,000,000 children were taken. It's the exact same propaganda as terrorism - one attack by a foreigner that kills 10 people is treated as though the entire nation of 319 million people were wiped out. When the police and child services can now pick your child off the street and put them into a foster home because they were "not under the supervision of a parent at all times", you have no chance. The U.S. has given away their freedom, simple as that.
I walked everywhere, which even then, wasn't all that common. It was ~2 miles (4km) to church, and there were several times when other parents would stop and offer me rides.
In the mid-2000s I was in Cincinnati, and noticed a lot of the neighbourhoods close to the city usually had squares with the usual restaurants, ice cream shops, bars, etc. It was refreshing to see teenagers out in the evening in the weekend. They had places that were easily walk-able to meet up with friends (even though the bus there is less than ideal).
I would have much rather grown up in that kind of environment that way out in the suburbs where you needed rides eveywhere and few of your friends were in walking distance.
I was born in 1981 and from the age of 7 or 8 I remember walking to school (1.5mi and parts of it along a busy street). My friends and I would play in the drainage culvert under the road, walking back and forth, the far side actually was basically a cliff, but we didn't want to fall, so we took care. I remember at age 10 wanting to ride my bicycle to a friend's house across town, but it was "too far" according to my parents. It actually was quite far though; at least 6 miles and mostly on very busy streets, no cycling infrastructure. By 11 or 12 I was riding my bike dozens of miles from home. My friends and I went all over the place unsupervised, all summer long, and this was just in the mid 90s. It was just your average middle class suburban American town.
I definitely hope people takes these stories to heart and it encourages folks to let their kids roam. But it's hardly a memory of generations past.