Posted on 08/01/2015 6:13:17 AM PDT by Sir Napsalot
TO some, millennials — those urban-dwelling, ride-sharing indefatigable social networkers — are engaged, upbeat and open to change. To others, they are narcissistic, lazy and self-centered. .....
Earning Much Less, Despite More Education
They are faced with a slow economy, high unemployment, stagnant wages and student loans that constrict their ability both to maintain a reasonable lifestyle and to save for the future.
Longer term, rising federal debt payments and increased spending on Social Security and Medicare will inflict a tremendous financial burden on them, threatening their own prospect of receiving promised retirement benefits.
To a considerable extent, that’s the fault of my generation, the baby boomers. We were the children of the Greatest Generation, but we may also be the most irresponsible generation.
(snip)
That’s a daunting challenge that would require revamping federal outlays to emphasize areas like education, infrastructure and research and development. Spending more on these areas would require higher taxes on my generation, which is getting a lot more from government than we are paying into it.
As part of redressing this imbalance, we need to reform the entitlement programs, for example, by reducing Social Security benefits for the highest income Americans. And important steps could be taken to both ease the burden of student debt for those who have already graduated and provide less expensive college opportunities for the rising generation.
Let’s at least start with a greater acknowledgment of the plight of millennials and the role that we — in many cases, their parents — played in creating it.
(Excerpt) Read more at nytimes.com ...
Reform the entitlement programs may be too late, (another article said Clinton in the 90s was the best time) it still needs to be addressed. However, it is a 3rd rail (amongst many 3rd rails), drowning out in today's more urgent illegal immigrant problem.
President Trump is going to stimulate the economy like nobodies business.
HOPEY CHANGEE turned out for the worse.
Whooda thunk it???? NOT Saul Alinsky, nosir!
Sorry, but today’s fragile snowflakes are facing nothing like the great depression followed by a world war.
Put on your big kid pants and grow up people! It is adversity that makes us strong, and wise. Stop running from it. You’ll like yourself much better in the morning. I promise.
That was all part of the plan.
You want to know what makes things really hard on us Millennials?
Crap like the Income Tax and Social Security Tax (the "pay back" from that we will never see)
Which if I am not mistaken were thought up by people who weren't Millennials.
Shouldn’t the ‘Rat Rattner be in the clink?
Still lovin' your hope and change?
I guess they are lucky they didn’t come of age during the 30’s. They would really be discouraged then. I suppose that counting your blessings and going on with life is simply too hard for them.
Once they fix income inequality life will be great. /s
I want them to outlaw cancer, arthritis—all disease; plus everyone should have a house, phone and Lambo. We can fix everything!
Many of the millennialis I know would solve their problems if they’d just stop playing around and get married. Marriage could lead to a sharing of living expenses and a path to savings and a better future. Too many are busting their butts for whatever nutty little career they have, as well as financing bi-annual trips to the Caribbean , Europe, hiking trips, environmental jaunts, yoga retreats, or whatever the flavor of The month is.
Too many of them refuse to get serious about life, marry or start families. I don’t feel an ounce sorry for them.
And now, as H.L. Mencken said, you're getting it good and hard.
You mean we shouldn't be paying college professors $200k a year to give webinars for class? You mean we shouldn't give tenure to idiots that can't teach, but because they have tenure, they'll get a pension w/ free medical benefits when they retire after 20 years?
You do realize that many of our veterans are war vets, right?
Who do you think were the ‘kids’ fighting in Iraq and Afghanistan? Most of the males in my daughter’s graduating class joined the army and fought for their country. She’s missing classmates who were KIA.
And the ‘pull up your bootstraps’ thing works great... until the government gives you a fine or ticket for owning boots.
They’re hampered by regulations. They’re hampered by the economy. They’re hampered by the lack of manufacturing jobs available in our nation.
Not *everyone* is built for college. There are powerhouses who don’t do so well with the books but can rebuild an engine blindfolded. (which doesn’t matter anyway because the college market has been saturated)
Example: My son wanted to open a business building gas bikes. He’d been building them on the side and people loved them. He couldn’t keep up with demand. So he starts looking into making it an official business.
The environmental BS that he’d have to go through because he used (gasp!) motor oil in his products was insane. There’s no way that the average Joe could start a business with the limitations. His on-the side business got him more than a 100% profit per bike. Going legit would mean that he’d have to raise his prices by 120% just to break even.
Lord help him if he wanted to hire some help.
So stop with the ‘bootstraps’ crap when these kids are strapped down by the freaking government. They can’t innovate. They can’t build something. They can’t move.
Crony capitalism has ended all of that. The laws are designed to help the big businesses from having to deal with upstart competition.
Environmentalists and bad trade deal with China have ended the American dream for a huge portion of that generation. Even when they do come up with a successful idea, the gov’t is right there to stifle that industry and to suck up any financial gains. (Look at Uber)
“You do realize that many of our veterans are war vets, right?”
Meant to say, “You do realize that many of our millennials are war vets, right?”
We need an edit function.
“...a daunting challenge that would require revamping federal outlays to emphasize areas like education, infrastructure and research and development. Spending more on these areas would require higher taxes on my generation, which is getting a lot more from government than we are paying into it.”
No, a daunting challenge is cutting federal outlays period. Too many folks getting paychecks from the government, too few people to pay the taxes for all of it.
If you want a daunting challenge - cut social security, federal pensions, military pensions, disability, medicare, medicaid, welfare, food stamps.
THAT is a daunting challenge.
Spending on a different mix of federal gravy is not the answer, and hardly a challenge compared to goring sacred oxen.
Unfair.
The article and its author’s aim at today’s millennials do not aim at those who serve/served in the military. Wiser Now is addressing to the ‘general public’ millennials talked about in this article. And you both know it.
However, I’ll grant you it is nice to be reminded of those exceptional young millennial generation.
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