The baby boomer generation was encouraged to breed and were given financial incentives to do so, with no regard for how all those people would be taken care of down the road. Those were the expectations of consumer capitalism at its outset.
Social security is bust. In most other countries in the world, the children have to take care of their parents until they die as there are no old age homes. In America, the demand for retirement homes is about to skyrocket, which means many Americans should get comfortable with the idea of taking care of the elderly directly, by themselves.
The main thing that pisses me off about this situation is that money was taken from social security by successive administrations and wasn't replaced. They didn't give two ****s about who that would affect down the road. This system treats old people like dirt, just like it does everyone else. They only thing about the current quarter, and maybe the next quarter, but never beyond that. It's sick.