The real problem here, as the article makes clear, is the decline in the population. Europe’s demographic suicide makes it harder to avoid a young-versus-old fight for scarce funds — and unlike North America, Europe does not absorb immigrants particularly well.
Can we avoid the German scenario here? Our birthrate is barely at the level needed to sustain the population – so as people live longer, the balance will continue to shift toward an aging population. But we do a much better job of encouraging immigration and absorbing immigrants into the society. And the boomers and seniors themselves are stepping up, working longer (i.e., continuing to pay taxes) and taking steps to help the younger generations – as I point out in my new book, Beyond Age Rage: How the boomers and seniors are solving the war of the generations.