It’s even worse than we thought. Two reports from the Parliamentary Budget Office and Treasury have shed more light on the extent of the structural budget deficit. While this has led to inevitable commentary about increases in taxes and reductions in expenditure, a notable absence has been the subject of how long Australians are living.

Australia is undergoing a period of substantial demographic change. For the first time, our society seeks to support two older generations -- the baby boomers in their 60s and their parents in their 80s and 90s. An Australian boy born in 2010 can expect to live to 80. A girl born in the same year can expect to reach 84. Of those who make it to 65, men can expect to live to 84 years and women to 87 years.