One theme on this blog is a certain level of generational warfare, for lack of a better term. The idea that our policies have been carefully crafted to benefit the older and wealthy at the expense of the young and poor. You tend to hear people focus on the rich/poor distinction, but the age difference plays an equally important role. There’s a new article in Esquire that explores this. Here’s the opener:
“Twenty-five years ago young Americans had a chance. In 1984, American breadwinners who were sixty-five and over made ten times as much as those under thirty-five. The year Obama took office, older Americans made almost forty-seven times as much as the younger generation.”
One astounding fact it reports is that it is estimated that 85% of 2010 college graduates returned to their parents houses, carrying with them an average of $25,250 in debt. The debt I can believe, but… 85%?!?! That seems so amazingly high. Must it include people who return home briefly before heading out for a new job or opportunity? I know the market for young people is awful, but I still find 85% very difficult to believe. Or am I being naive?