The dilemma of advanced democracies, including the United States, is that they've made more promises than they can keep. Their political commitments outstrip the economy's capacity to deliver.
Samelson argues that France has similar issues with their demographics, and other factors make the problem very challenging for France. I think I recall someone, perhaps Jerome, saying this would be a pretty easy issue to fix with some balance of tax increases, benefit cuts, and later retirement. Just wondering if their are long range budgets in France that lay out the extent of the problem, and how it could be addressed?
I found the Samuelson article to be good, though it has some of the same misleading presentation on youth unemployment statistics that we have criticised elsewhere.
Aging: Some Pleasant Fiscal Arithmetic
I don't have the mathematical stamina or the background to judge its merits but i hope it is useful to this discussion, in the hands of someone more able.
Overall it proposes things may not be as tragic as some make them, hence the "Pleasant".
interesting work paper from non other then the IMF