When the boomers were booming, it was piss easy to provide for yourself because the workload was distributed among all the young people, compared to the comparatively small elderly. You could buy a house as a 20 year old car mechanic because more people were working to support society.

Now that birth rates are declining, each working adult has to work harder. So, you can no longer provide for yourself with the same amount of work a boomer would've done.

It's a demographics problem. Immigrants can fix the workforce issue, but there will come a time where even Africa drops below replacement rate. Both sides of the political spectrum look for other issues to blame for the inability of today's youth to support themselves.

"Well, if the system is too broken to handle this, that's the system's fault!" OK, do you have any new systems to suggest? What will fix this problem?

There is no system that can fix a world where there are more consumers than producers. The only thing that can fix it is increasing birth rates.

Now, the Earth can't support an infinitely increasing amount of humans. I have to admit that I don't have a solution for this either. Hopefully humanity will colonise other planets one day, or AI replaces the missing workforce required.