Second, the U.S. population will be much older by 2035, and so more services and innovations will be geared toward older Americans. As current millennials and Gen Xers become senior citizens, they too will benefit. They will be the first generations ever to step into a world “built for the elderly.”

Third, imagine a future where these older millennials are the largest bloc of active voters. If they face a significant fiscal shortfall, they will have the option of letting in more high-skilled immigrants to work, pay taxes and help cover the deficit. Boomer voters won’t be around to stop this change in policy.

Finally, the variability of inflation across sectors probably favors the elderly over the young. There will be plenty of affordable real estate in the Sun Belt, and many of the elderly won’t need to live near jobs. The Internet will be better than ever, and Skype calls to the grandkids and old friends are likely to be higher in quality. Drone delivery and self-driving vehicles might make life much easier for the relatively immobile, and biomedical technology is showing real promise.

I’m not saying everything will be fine in the future. The U.S. is vastly underperforming relative to its potential. But the claim that post-boomer generations will be left holding the bag, through a bankrupt Social Security system, just doesn’t add up.

This column was provided by Bloomberg News.

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