You also wind up with fewer able-bodied working-age adults, which brings with it its own problems. Specifically, with retiree standards of living; these are pro

You also wind up with fewer able-bodied working-age adults, which brings with it its own problems. Specifically, with retiree standards of living; these are proportional to the retiree-to-worker ratio, average worker income, and the combined tax and savings rate on workers. Having fewer children means that when those children would be adults, people need to retire poorer and/or later.