Current standard of living is predicated on 3-4% annual growth. All developed countries incur massive debts, hoping that, thanks to growth, it will not be hard

Current standard of living is predicated on 3-4% annual growth. All developed countries incur massive debts, hoping that, thanks to growth, it will not be hard to pay off 10-20 years into the future.One of the biggest component of this are state and public pensions. So yeah, we could live without constant high growth, but it would mean living within our means and not borrowing against the future. In practice, that would lower standard of living for everyone (not retiring to Florida etc.).