The percent of Catholics has been steady for the past 40 years, but the study says this is because they are replenished by hispanic immigrants. But the percent has been steady for the past 5 years as well, despite net zero hispanic (mexican?) immigration. I didn't notice if the study directly answered your question. Also, 1/3 of US hispanics are protestant, so that's one form of leaving Catholicism.
Also, much of the effect is people leaving the religion of their parents that they never identified as, so, as fortyeridania says, relative fertility is relevant. But I don't think there's much of that in the US these days.
A new study by the Pew Forum on Religion and Public Life [executive summary; full report; New York Times cover story] found that 19.6% of adult Americans answered a question about their current religion by saying they were atheist, agnostic or “nothing in particular.” In 2007, the figure was 15.3%; in 1972, it was about 7%.
Some relevant quotes from the executive summary: