Macron wants reforms to the country’s pay-as-you-go pension system.

There are not enough rich people for only class-warfare taxes to finance future entitlement spending.

We need the right kind of entitlement reform/

Is there an appetite for restraint?

Demographic outlooks are deteriorating faster than reforms are happening.

The United States obviously is not in good shape.

This the most depressing chart in the world?

This is the Social Security chart that matters most.

How and when debt matters

It’s good to begin a new year with optimism