but we're all moving in that direction and this is something we need think about going forward. >> it's the political and economic time bomb. the problem exists in taiwan, south korea, hong kong, he poland, austria, across the western europe and here. all of these people who have entitlements that they expect to get in their retirement years will have to be supported by fewer numbers of people and there's going to be a political crisis when that moment arrives. paul: if subsidies aren't the answer, what can government do to reduce the cost of child bearing and having families? i assume there are some things they can do. >> sure. i mean, one thing we see, student debt is a huge problem, government has encouraged young people to take on massive amounts of debt which makes starting a life and a family much harder. reforming how we pay for higher education would be huge. but also at a more local level, housing a and zoning regulations that drive up rents, there's any number of low-hanging fruit that