[lotsofpulp]

Politically, there are a lot of promised benefits that need to be delivered to old people and fewer and fewer working hands, meaning higher costs to deliver those benefits since labor prices rise.

This would necessitate larger than desired tax increases on the politically influential.

Solution: Reduce the quantity and quality of benefits as much as politically possible, but also import more working hands to reduce labor prices. That it helps support asset price increases is just an added benefit.