I think you correctly identified the symbiotic relationship. If seniors expect their benefits to be fulfilled, they need to invest (jobs, education, etc.) in very people who are paying their entitlement.
Stan Druckenmiller gave a talk about this very subject called "Generational Theft":
https://www.youtube.com/watch?v=fbgIiAnpcPc
The chart from that talk showing the reversal of investing in the young vs the old:
http://www.businessinsider.com/stan-druckenmiller-on-generat...