Ah, humans have only had retirement for like 100 years or less (for the common man). Some people dont realize that life IS work, and we've been working till we die for as long as man has been around. Having days off and vacations and all that is just luxuries anyway. If you were living in the woods or something, you're working all the time just to feed yourself or whatever, so when i put it into perspective, it aint so bad.
Still, nobody should be naive enough to give the government money their whole life and expect them to give it back when you're old. IF i ever retire, it's going to be in money that i save myself (but more likely, physical assets like land and whatnot, as money can become worthless over time).
On topic, i think that 80% or more of the whole liberal arts wont last when it comes push to shove and cutting needless spending. For societies, infrastructure takes precedent over art, or 'feeling good' and whatever else most liberal arts pertain to, and eventually the gravy train is going to stop (look at greece) when countries run out of other countries' money. Then society is going to have to decide what is really important for society. I mean, art will always stay around in some form or another, but it will be one of the first things cut when you look at necessity and government funding.