The war over pensions is going to get more intense. There is a lot of nebulous resentment out there - I don’t call it a “pool” anymore as it is clearly oceanic in scale now - and that resentment can be putty in the hands of a skilled demagogue.

Bottom line is that our retirement systems assume a slow population growth rate. We expect at least as many or more workers in the future, to support the retirees.

This btw is one reason why immigration is a good idea.