front cover of Forever Broke
Forever Broke
How Baby Boomers are Bankrupting the Millennial Generation
Andrew Stiles
Templeton Press, 2018
Rising journalist and fellow millennial Andrew Stiles is all too familiar with the financial realities of his generation—inescapable student debt, insufficient jobs, and the sort of apathetic response to the inevitable Social Security drainage that will leave them empty-handed in old age. But rather than resigning or whining, Stiles employs both humor and research to illustrate what is turning out to be a “bleakenomic” future for millennials.
Some of his key findings include:
  • U.S. debt is approaching 100 percent of GDP, the highest level since World War II.
  • By 2050, debt is on track to reach an unprecedented 145 percent of GDP. Under one pessimistic (but probably more realistic) scenario, CBO estimates that debt could rise to 244 percent of GDP, which means lights out.
  • By 2050, federal spending is projected to exceed 29 percent of GDP, levels not seen since the height of World War II. We’re on track to spending more money on baby boomers in retirement than we did to defeat the Nazis.
  • Since 1984, the median net worth for households headed by some­one under the age of 35 has declined 68 percent. For retirement age households, net worth has increased 42 percent over that same period. The result is the largest generational wealth gap in history. Boomers did better than their kids in early adulthood, and will do better than their kids in retirement.
  • As millennials remain childless and single for longer, they face one of the highest tax rates (16.9 percent) for their demographic in the developed world.
The millennial reality is harsh, but Stiles does not wallow in it. Rather, he uses the data as a slap in the face to shame boomers and wake up millennials to save, vote, and work for change in a system that can’t continue.
[more]

front cover of The Millennial Generation
The Millennial Generation
Implications for the Intelligence and Policy Communities
Cortney Weinbaum
RAND Corporation, 2016
In 2015, for the first time, millennials outnumbered baby boomers as the largest generational segment of the U.S. population. This report describes how the intelligence community must engage millennials across multiple segments to succeed in the future: millennials as intelligence clients, employees, and partners and as members of the public.
[more]

front cover of Racial Stasis
Racial Stasis
The Millennial Generation and the Stagnation of Racial Attitudes in American Politics
Christopher D. DeSante and Candis Watts Smith
University of Chicago Press, 2020
Racial progress in the United States has hit a wall, and the rise of white nationalism is but one manifestation of this. Most Americans continue to hope that the younger generation, which many believe manifests less racism and more acceptance of a multiracial society, will lead to more moderate racial politics—but this may not be happening. Overtly racist attitudes have declined, but anti-black stereotypes and racial resentment remain prevalent among white Americans. To add, the shape of racial attitudes has continued to evolve, but our existing measures have not evolved in step and cannot fully illuminate the challenge at hand.

With Racial Stasis, Christopher D. DeSante and Candis Watts Smith argue persuasively that this is because millennials, a generational cohort far removed from Jim Crow and the Civil Rights era, lack sufficient understanding of the structural nature of racial inequalities in the United States and therefore also the contextual and historical knowledge to be actively anti-racist. While these younger whites may be open to the idea of interracial marriage or living next to a family of a different race, they often do not understand why policies like affirmative action still need to exist and are weary about supporting these kinds of policies. In short, although millennials’ language and rationale around race, racism, and racial inequalities are different from previous generations’, the end result is the same.
 
[more]


Send via email Share on Facebook Share on Twitter