Young Adults: We're Suffering, Not Thriving

Reader Comments
Back to blog

it is an eb and flow, up and down cycle. that's how it works, it will always even itself out through supply and demand. i just hope this downturn doesn't give to much power to the liberals and tax more just to give it all away.

joe of NY 1:06PM April 30, 2010

David,
I am a baby boomer, who has saved for retirement and will be working until I am 70, due to necessity, not because it's fun. We don't have it great, our parent's generation, those now in their 70's and 80's were able to retire at 55, not so for the majority of us. Social Security was never meant to be retirement, it was meant to be a help to the very poor, unfortunately Roosevelt portrated it as 'retirement' and many people believed him to their peril. Turst me in today's climate, defense spending is worthwhile, things like 9/11 crippled our financial and insurance markets and we are still recovering from that, which most people conveniently forget in the current administration. What is very sad and what will impact your generation is that the current administration has no business sense or savvy, and do not understand how to grow the economy. You do not grow an economy through healthcare mandates and increased taxation - in a down economy - if people aren't working, how are they supposed to pay higher taxes? The government needs to act to lower federal taxes to take some of the regulatory burdens off of businesses, especially small businesses who generate 70% or more of jobs, they need to allow insurance companies to sell across state lines, enact tort reform, and get government out of the car, energy, and healthcare busiensses (they have NEVER run anything at lower cost, with better distribution or efficiency) and cease trying to achieve 'social justice' which is a fallacy and was not contemplated in the Constitution for good reason. There is no justice in taking away from people who produce and contributing and/or giving it away to those who do not. The current deficit and wreckless spending are a real worry, and the people who are paying attention are very worried for YOUR future. Pay attention to what is happening in go

of 4:40PM January 14, 2010

David,
I am a baby boomer, who has saved for retirement and will be working until I am 70, due to necessity, not because it's fun. We don't have it great, our parent's generation, those now in their 70's and 80's were able to retire at 55, not so for the majority of us. Social Security was never meant to be retirement, it was meant to be a help to the very poor, unfortunately Roosevelt portrated it as 'retirement' and many people believed him to their peril. Turst me in today's climate, defense spending is worthwhile, things like 9/11 crippled our financial and insurance markets and we are still recovering from that, which most people conveniently forget in the current administration. What is very sad and what will impact your generation is that the current administration has no business sense or savvy, and do not understand how to grow the economy. You do not grow an economy through healthcare mandates and increased taxation - in a down economy - if people aren't working, how are they supposed to pay higher taxes? The wealthy 1% of this country already pay between 40 to 60% of the federal tax burden. The government needs to act to lower federal taxes and also ensure that everyone at least pays SOME tax - if you continue to allow the majority of Americans (now close to 50%, to pay no taxes, they have no appreciation for the cost of the services and goods they receive - they need skin in the game, not merely to point at people who have more than they do and say 'you should give me some!', they also (the gov)need to take some of the regulatory burdens off of businesses, especially small businesses who generate 70% or more of jobs, they need to allow insurance companies to sell across state lines, enact tort reform, and get government out of the car, energy, and healthcare busiensses (they have NEVER run anything at lower cost, with better distributi

of 4:36PM January 14, 2010

David,
I am a baby boomer, who has saved for retirement and will be working until I am 70, due to necessity, not because it's fun. We don't have it great, our parent's generation, those now in their 70's and 80's were able to retire at 55, not so for the majority of us. Social Security was never meant to be retirement, it was meant to be a help to the very poor, unfortunately Roosevelt portrated it as 'retirement' and many people believed him to their peril. Turst me in today's climate, defense spending is worthwhile, things like 9/11 crippled our financial and insurance markets and we are still recovering from that, which most people conveniently forget in the current administration. What is very sad and what will impact your generation is that the current administration has no business sense or savvy, and do not understand how to grow the economy. You do not grow an economy through healthcare mandates and increased taxation - in a down economy - if people aren't working, how are they supposed to pay higher taxes? The wealthy 1% of this country already pay between 40 to 60% of the federal tax burden. The government needs to act to lower federal taxes and also ensure that everyone at least pays SOME tax - if you continue to allow the majority of Americans (now close to 50%, to pay no taxes, they have no appreciation for the cost of the services and goods they receive - they need skin in the game, not merely to point at people who have more than they do and say 'you should give me some!', they also (the gov)need to take some of the regulatory burdens off of businesses, especially small businesses who generate 70% or more of jobs, they need to allow insurance companies to sell across state lines, enact tort reform, and get government out of the car, energy, and healthcare busiensses (they have NEVER run anything at lower

of 4:36PM January 14, 2010

To me the recession isn't a bad thing but then it is. I am 20 I invested my life savings into a small car lot in 2008 right before the recession. Because of the recession I am able to look at buying a small home to fix up and hopefully sell in a better market. Three years ago that would have been less possible. On the flip side, my business relies on local trade-ins from local dealers. Less new cars sold=less trade-ins. My business could be much more profitable if I could sell at a higher volume, but the recession is preventing that. The recession gives me future opportunities (home buying) but to reach those goals in purchasing a home, my current opportunities (my business) need to profitable. Currently, I am not thriving.

Johnny Houseman of MI 2:47PM November 11, 2009

You have the baby boomers selling out these young people's future in the form of massive debt for things like health care programs (all well and good but we can't afford it now, much less keep paying for it), defense spending, etc so they can feel secure when it requires massive amounts of debt that the young people coming out onto the job market now will have pay back in taxes and other things when most of the people that benefit will either be retired or dead. They have no such thing as social security to look forward to. They have to have it now and don't take responsibility for their own lack of retirement or financial planning, its the same mindset and risky behavior that put the economy in the boat its in. People looking at this quarters numbers or what they can get now rather then what it will cost down the road.

David of NC 3:56PM October 08, 2009

Try higher then 50%
http://www.nypost.com/p/news/business/the_dead_end_kids_AnwaWNOGqsXMuIlGONNX1K

David of NC 3:51PM October 08, 2009

People are hurting for a lot of different reasons. It does not matter if your young or old. If most people handled their finances correctly and not carry a ton of consumer debt we would all be just fine. The real estate market downturn made it possible for me to buy my first house. When it comes to 401k, the money you put into it the more stocks you will be able buy because of low stock prices. So when the market starts to rebound like it has latley you will get more return as long as you do your due diliagence and pick stocks and funds you know about.

chris of GA 7:32AM September 14, 2009

She neglects the fact that the previous generation walked us right into this housing crash that supposedly would've been too expensive. The failure on many young folks credit and confidence to know they can be successful.
The price of eggs and milk would've made everyone broke just the same as the rest of the young folk.
Last time I looked, the country was shipping jobs offshore.
Price of tuition is still continuing to climb.
Stocks? 401K? Is she serious?

Joshua J Owen of IN 9:19PM July 13, 2009

So, this is the result or aftermath of the North American Free Trade Agreement? Or as George H. W. Bush called it the beginning of the New World Order. Take a bow to the corporate gods? Hell no, I say spit in their faces!

Samuel L. James Jr. of NY 3:42PM July 06, 2009