Oh, please. So, none of those elderly have private resources, or even great wealth, that are pulling government checks? And none of those on the dole are able to work or survive on their own? I find that very difficult to believe. If one-fifth or one-sixth of the population is going to lie down and die if the fedgov goes out of the handout business then we're already doomed.
No they won't lay down and die. You'd need to execute them of course. You can't have that many people protesting in the streets. Nothing would get done!