The biggest problem facing America's economy: not enough people

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Fewer births, less immigration, and no tourists: the American economy has a growing not-enough-people problem.

America isn't empty empty. Its population is still growing. Its cities remain raucous and crowded. Its suburbs are buzzing. But the country is starting to feel a little less full. For years, economists and demographers have warned about the coming "Great People Shortage," a time when the US population would begin to decline thanks to lower birth rates and aging baby boomers. While the current situation is not yet as dire as those predictions, the ground is shifting in ways likely to reshape the American economy. The decrease in babies born years ago is now becoming more perceptible, as fewer people are reaching adulthood and joining the labor force.

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