You're right that future liabilities are a mess. In Australia in the early 1990s the government introduced a program of compulsory superannuation. Already something like a trillion dollars has been saved by Australians against their retirement under the scheme. Singapore does something similar. Australia has also put away tens of billions of dollars against the future liabilities of public service pensions.
Will it completely do away with government liabilities? No. Australia too will face higher health care costs. But some of those costs will be defrayed by the superannuation and taxes levied on an economy that grew faster without the taxes than with them.
I am ambivalent about the Euro-US situation. On the one hand, it sucks that you face a period of painful adjustment to inescapable economic reality. On the other hand, your politicians have steadfastly refused to face up to those realities. As an Australian I find it annoying that profligate governments in Europe and the USA are hurting my prospects, even though here we've largely enjoyed fairly sensible economic policy for the past 25 years.
Will it completely do away with government liabilities? No. Australia too will face higher health care costs. But some of those costs will be defrayed by the superannuation and taxes levied on an economy that grew faster without the taxes than with them.
I am ambivalent about the Euro-US situation. On the one hand, it sucks that you face a period of painful adjustment to inescapable economic reality. On the other hand, your politicians have steadfastly refused to face up to those realities. As an Australian I find it annoying that profligate governments in Europe and the USA are hurting my prospects, even though here we've largely enjoyed fairly sensible economic policy for the past 25 years.