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"20 Reasons Why Young Americans Are
Screaming Mad About Our Unfair Economy"
by Epic Economist
"Young Americans are getting extremely angry and frustrated with the current economic conditions. Previous generations promised them that if they worked hard, made good choices, stayed in line, and got good grades, they would be able to live the "American Dream". Millennials and Gen Zs were told not to worry about accumulating massive levels of student loan debt because there would be good jobs waiting for them at the end of the rainbow once they graduated. Well, that turned out to be a lie. Right now, nearly half of them are living paycheck to paycheck and having trouble covering basic expenses. In fact, today we have the highest share of adults living with their parents since the Great Depression, and younger generations will continue to fall behind financially because they can't afford to buy a home and start building wealth on their own.
Some economists argue that the young are part of an entitled generation that is flat broke because they are lazy and irresponsible, but that is far from the truth. Today, they work much longer hours and earn significantly less than previous generations when adjusting to inflation.
Young Americans have tried to do everything right and are still struggling to get by. Many of them end up blaming themselves. Many of them think that they are not talented enough or that they didn’t work hard enough or that they don’t have the right connections. But the reality is that decades of inflationary policies are starting to catch up with us in a major way, and they just happen to be caught in the crossfire. Their future looks quite gloomy, and as more of them start realizing that the system is broken, they are likely to become angrier and angrier.
With so many financial setbacks, it’s no wonder why roughly half, or about 45%, of young Americans agree that they feel like they will never have the things they want in life because of their money situation. Among younger generations, financial health remains persistently below the national average, Morning Consult’s research exposed. Millennials’ average financial well-being score - developed by the Consumer Financial Protection Bureau to track financial security and freedom of choice across different population segments over time - stands at 47.05 compared to 50.81 out of 100 for the average American. Even though it may not look like a dramatic difference, that’s quite a significant gap when you consider that a 1-point gain in a consumer’s month-over-month financial well-being score basically amounts to about a $15,000 boost in household earnings, or a 20-point credit score improvement.
When we break U.S. adults down by age, we can see that our long-term economic decline has hit the young the hardest by far. And yet somehow we expect them to bear the burden of providing Medicare, Social Security, and other social welfare benefits to the rest of the population as they get older. No wonder this group is feeling so helpless about their future. For that reason, today we gathered statistics that reveal Millennials and Gen Zs are facing worst economic conditions than previous generations."
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