Today's young adults are feeling the full, deep impact of a massive shift in the US economy, and are no longer able to start and sustain a family, build a career and grow assets in the same manner as the previous generation, according to a new report series published today by Demos, a national, nonpartisan public policy center.
The new five-part "Young Adult Economics Series" shows that America's young people are feeling the full effect of a 30-year shift from an industrial to technology- and service-based U.S. economy. The series shows that the combination of stagnant wage growth, growing debt, and high costs of education, homeownership and healthcare are new realities. These are now common factors that challenge the ability of America's 20-and 30-somethings to start, and sustain, an economically stable adult life.
whether you "buy into" the "American dream" or not, this situation is like Saturn devouring his children. I do think the US needs to downsize its consumption, but not at the expense of the young.
Post a Comment