The real reason young people are the poorest generation in 25 years

The kids are not all right. As the millennial generation starts to reach its 30s, many of these ‘80s and ‘90s kids are having kids of their own, and recent surveys show one in five millennial parents is living in poverty. That’s the result of a combination of rising costs for raising children, falling wages, increased unemployment, and high debt—mostly college related. But the boomer generation seems to think otherwise: Millennials are to blame for their own financial situation, thanks to wasting time on the Internet and being too lazy to find jobs.

Millennials certainly are facing a financial crisis, but it’s not because of how they use their money, nor is it the result of how many Facebook quizzes they take or BuzzFeed listicles they read. It has much more to do with the financial legacy left to them by the boomers—and the refusal to acknowledge that this is a generation in dire need of better social support.

via The real reason young people are the poorest generation in 25 years.

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