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We do have a very real babyboom bulge, but again, it creates problems which are no unsurmountable. It is not a hard transition to focus spending on the people that need it most (especially if they are the biggest voting block) - and if that changes some big macroeconomic numbers, so be it. It is a choice of society, and society can well afford it.

What makes you think that we won't be able to afford to pay for a larger number of pensioners? Why wouldn't all our productivity growth oriented towards preserving the income of the pensioners rather than the revenues of the workers? It's a distribution choice, i.e. a social/political issue, not an economic problem. And for individual workers, little will actually change.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Tue Apr 4th, 2006 at 06:30:49 PM EST
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