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we need more working powers to keep our wealth and our standard of living up. obviously, as things are crumbling around us, this means we don’t put in enough effort to maintain things, and more hands would help.
that is a false thought. The labor market is regulated by supply and demand. That means, fewer workers lead to higher wages and a higher quality of life. It might seem paradoxical, but having a smaller workforce means people in the country will be able to afford more stuff.
That is especially important as people discuss the birth-rate, and immigration, in all countries, also in the US and in Europe. People say things such as “women have 1.6 children on average, which means our population is declining, and obviously that is the reason why our quality-of-life seems to be going down as well”. However, the opposite is true. As automation takes over and well-paying (and meaningful) jobs are eroded, having fewer people around doing all the work actually drives wages up, and leads to an improved quality-of-life.
the government can go into unlimited debt if it is willing to cause a hyperinflation at some point later in the future to eliminate all of that debt.