Oh wow, you do like asking the extreme questions!
I don't think shrinking it is really possible, telling people what they can and can't do with their bodies and families bring up so many issues. Reducing healthcare to sick people or older people could work, but again, morally, this seems wrong.
Undoubtedly if things do not change then there will be issues but focusing on fixing these issues is what is needed rather than avoiding them. Maybe reusable rockets to Mars?!