it seems as if a lot of the younger generations on here believe that the boomers had life so easy and somehow just "walked into" the financial positions they have today. I posted a study in the WSJ about comparative generations financials and one of the basic facts that I admit surprised me was the comparison of housing. The boomer generation, when you consider the age they would have bought their first houses, the mortgage rates (as high as 18%), and the constant dollars (1980s vs today) the cost for boomers was just about double as what it is for the comparable generation, same age group (25-34) buying first houses today. Life wasn't just a walk in the park in the 60's through 80sI definitely worry about future generations. The debt will hit them harder than it hit us. Entitlement programs are in trouble.
Do you have a plan to reduce the debt? I haven't heard one from either party. Even small things like funding for PBS and work requirement for able bodied working age people without dependents meets strict opposition.
P.S. My kids will be fine. Both have good jobs and both save a lot.
For me, I stated my working life as a private E1 in the Army...an option which is still available for many of the posters on the board - now that they have raised the recruitment age to 42.
