Macron-style reforms are needed — and not only in France

It would be easy — but also a mistake — to dismiss this as yet another episode in France’s idiosyncratic politics. Mr. Macron’s struggle reflects that of politicians in the United States, Japan and elsewhere, who face the challenge of providing a decent retirement for increasing numbers of aging citizens without draining resources rising generations need to lead decent lives. Despite this long-term imperative, forcing needed reforms to old-age benefit programs in democratic societies has so often proved impossible, and not just in France: A rare moment of bipartisan applause in President Biden’s recent State of the Union address came when he pledged to protect Social Security and Medicare, despite the glaring need to prevent them from busting the federal budget in coming decades…

Already, France spends nearly 15 percent of its gross domestic product on pensions. Mr. Macron’s adjustment will be small, raising the retirement age from 62 to 64, which would still keep France well in line with most of its European neighbors…

In France, as in the United States, the politics around old-age benefits needs to change, because the demographic trends won’t. All leaders who recognize the challenge should recommit to guiding the public toward facing it — or else be cursed by future generations when the bill comes due.