As people get older, they start getting more expensive. If you don't have a larger generation coming from behind to provide for that ever-increasing older generation, then the costs have to be spread among fewer people.
The earth's resources are not infinite. We may not be able to say precisely what its carrying capacity for humans is (and the answer would depend to some extent on the conditions in which the humans are prepared to live), but I am entirely confident that there is a limit.
With that said, would you like to be the politician to stop the madness, if that's even possible? Things will not change until we have a crisis.
https://ourworldindata.org/fertility-rate#what-explains-the-...
I don't believe there's anyway to know today that it's a one way ratchet forever.