I am looking at it from more of a socio-economic view point.
Fewer people means not only population contraction, but economic contraction. Fewer homes to build, fewer big screen TVs to fill those homes, washers and dryers etc.
Then there is the SS problem. It takes 3 working people to support that one retiree. IIRC it was 2010 we fell below that number and continue to fall.
Read an article recently saying those prior to the baby boomer generation actually saw the greatest return on their SS contributions. The baby boomers are second. But due to their numbers, SS will be unfunded by 2034. Those who will be retiring by that time will likely see reduced in benefits (payout).
It is even worse for millennials.
