The fiscal state

1. Pensions.
   1. Pay-as-you-go systems.
   2. Worker-to-retiree ratios.
   3. Retirement ages.
   4. Benefit and contribution pressures.
2. Healthcare.
   1. Age-related healthcare spending.
   2. Long-term care.
   3. Caregiver shortages.
   4. Public versus private provision.
3. Debt and taxation.
   1. The tax base.
   2. Intergenerational transfers.
   3. Sovereign debt.
   4. Distribution of fiscal burdens across generations.