Quote from denner:
The problem is that, like alot of other Boomers, you are looking backwards at America's "good times" when the credit bubble was expanding and there was enough economic growth for that hard work to pay off. That's not to say that the 1970's were in any walk in the park, but an education didn't cost an arm and a leg and if you had any cash you could buy real estate at a huge discount.
Nowadays, the upcoming generations are so completely mired in debt with a lowered standard of living and the opportunities aren't what they once were.
Was considering responding to his post, but the "why" could take a thesis to do justice.
In the time you mentioned, America has endured HUGE changes from being very rich => world's largest debtor nation. That is fact. The political aspect of it all has sacrificed fiscal reality/responsibility for ideology... and we're much worse off for it.
