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No, that's just the neolibaral capitalist propaganda talking. The actual unsustainable part are the less than 1% sucking up most of the money while the remaining fraction is supposed to sustain social, health and pension system from their stagnating wages.
It's actually very easy to look up facts and numbers. The rate between people working and people sustained by them has basically not changed in nearly a century. Sure, children/pensioneer rate changed but that isn't actually a problem as long as the general rate keeps steady. And as long as the workers don't suddenly become much less productive of course.
Funnily the systems worked in the 1950s, in the 1970s, in the 1990s... and then with -as mentioned- roughly the same amount of workers in the total population AND a massively increasing productivity (GDP per capita increased to ~x2,5 in the last 50 years; naturally caused by the exact same progress that also raises life expectancy) it suddenly didn't work anymore and we have to constantly increase the quota of wages workers have to spend on health and social costs. (And the same is true for taxes: how can countries that build infrastructure once fail to even sustain them nowadays?) So what actually changed?
The aswer is quite easy. Up until the 1990s (in Germany... but we see the same bullshit happening in other countries, sometimes a few years earlier, sometimes a bit later) wages and pensions kept in pace with the GDP. And then neoliberalists sold the fairy tale of privatisation and other means of not only funneling money to the top but also stopping to tax that money. And while wages stagnated the whole system was still linked those wages.
Seriously... production per capita is high as never before yet -magically- neither health, social and pension contributions based on those wages nor basic public functions based on taxes are sustainable anymore? If you seriously believe the constant propaganda of how you (or better those indolent youngsters) are just lazy and need to remember how to be productive, how <insert whoever is in the government right now) is just wasting money for nonsense, and -most importantly!- how we only need to get rid of all those lazy immigrants exploiting us, I have this really fancy bridge here that...
Als Anschauungsmaterial:
Wenn du also das nächste mal in einem unbedeutend scheinenden Nebensatz das Wort "Binnennachfrage" hörst, denk einfach mal darüber nach, wieso sich Menschen in einem der reichsten Länder der Welt nichts mehr leisten können, während die Milliardäre im Land ihr Vermögen alle paar Jahre (in Krisenzeit tatsächlich noch schneller) verdoppeln.