We've got the baby boomers, Gen X, then Gen Y and The Millenials ... what do you call young people of today?
Tiffany Hsu and Shan Li of The Los Angeles Times coined the term "Generation Vexed" and they may have a valid point:
Fewer than half of Americans believe that the current generation will have a better life than the last, according to a Gallup poll this spring. It was the most pessimistic showing for that barometer in nearly three decades.
Another poll, of Americans ages 18 to 29, found that three-quarters of them expect to delay a major life change or purchase because of economic factors. The survey — released last week, just before the Standard & Poor's downgrade of U.S. debt — was by the nonprofit Generation Opportunity, headed by Paul Conway.
"There's a generation here being formed under the crucible of unemployment, debt and lack of economic chances," said Conway, who was chief of staff at the Labor Department during the George W. Bush administration. "They're just seeking an opportunity to get in the game."
During the fight in Congress this summer over the debt ceiling, frustrated college students banded together to form a coalition called Do We Have a Deal Yet? John Glass, 21, was one of more than 100 student body presidents who signed a public letter produced by the group.
"Our generation is going to take the brunt of the force of the debt crisis," said Glass, a government major at St. Lawrence University in New York. "It's going to mean fewer jobs, higher interest rates, more debt.
"We'll have to sacrifice," he said. "This is a raw deal for our generation."
Link (Photo: Don Bartletti/LA Times)