Think about the fact that the result of a low birth-rate with better medical tech keeping older people from dying when they otherwise would have. The result will be a far higher percentage of voters in democracies will be beneficiaries of the work of people younger than them. They will increasingly vote to expand the benefits they receive, at the expense of the younger folks who have to pay higher taxes to fund them.
Perhaps one of the most distinct, and deliberately obfuscated, characteristics of COVID is its steep risk stratification by age. According to the US CDC data here: https://covid.cdc.gov/covid-data-tracker/#demographics Roughly 94% of all COVID deaths were in people age 50 and up. 28.2% of deaths were in people over the age of 85, 7 years past the average US life expectancy (for men). If you look at the response to COVID in western nations, you can see that the cost/benefit analysis wasn't being evaluated in the context of the vast majority of people dying (and therefore benefiting) were past retirement age, and the vast majority of people bearing the cost of these policies were younger, lower risk people who were put out of work. The government programs that used debt-financed payments to alleviate these issues for the young generated debt that, again, will hurt the younger generations far more than the older.
Even before covid, the USA has universal health care for people over 65, but not for younger people or kids in working class families who aren't broke enough to qualify for Medicaid. I'm 40, so I'm no spring chicken, but western democracies routinely fuck over young people to help the old. It's going to get far worse until it hits an unsustainable level.
I've paid Social Security and Medicare taxes for 25 years, since my first paycheck, and it's not likely I'll ever receive anything from these programs based on current projections.