Gen Y is my generation (I was born in 1981). The sheer number of kids close to my age that I've seen and know personally that have gone ga-ga over B. Hussein Obama is scary. Gen Y, by and large, is composed of sheeple, IMO.
You may be forgetting that it is our generation, Gen Y, who is fighting in Afghanistan and Iraq. I guarantee that our leaders 30 years from now are being shaped on the battlefield today.