Millennials, the Screwed Generation, Blame Boomers For Making Their Lives Worse

51% of millennials claim boomers make their lives worse. Only 13% of millennials say boomers make their lives better.

An interesting demographic-based survey conducted April 9-13, 2018 purports Baby Boomers Made Millennials Lives Worse.

Beset by big college loans, inheriting two wars, and facing an uncertain future of work, a majority of millennials say baby boomers have made things worse for them — and a lot of boomers agree, according to a new Axios/SurveyMonkey poll.

If it persists, the generational divide could turn into political rivalry as the generations compete for limited tax dollars — millennials seeking government help as automation takes hold, and boomers insisting on promised levels of Social Security and Medicare.

This ties in nicely with the upcoming pension crisis and healthcare-related issues as well.

Screwed Generation

  1. Consider Obamacare. It was purposely designed to make millennials overpay for healthcare. Millennials subsidize boomers who are better off financially.
  2. When I went to the university of Illinois, tuition was $250 a semester. One realistically could have worked summer and part-time jobs to pay for an education. Now kids are graduating from college with mountains of debt and no way to pay it back.
  3. Social security is projected to be bankrupt by the time millennials can collect. Benefits must drop.
  4. A pension crisis looms. The boomer solution has been to kick the can down the road, always raising taxes. Those tax hikes go nearly 100% to pension funding. What do millennials get out of it? Nothing!
  5. Millennials are likely to be the first US generation in history that is no better off than their parents, if not worse.

Payback

Within a decade Millennials will be running the country and they may not exactly be sympathetic to the pension plight of boomers.

For discussion of the pension crisis and possible millennial payback options, please consider Global Pension Gap Expected to Hit $400 Trillion: US Leads the Way.

Reader Replies

Reader Tengen commented: As a Gen X'er I'm not terribly fond of any current American generation, including my own. We all played a part in this acrimonious society we see today and nobody made much effort to stop it. Seems unlikely history will be kind to any of us, at least on a generational level.

I replied: Absolutely - Anger should be directed at the Fed, at Bush, at Obama, at Congress, and at warmongers.

There is plenty of blame to go around, but boomers are in charge of Congress, the Fed etc, and have been for years.

Most likely, anger will be misdirected, but boomers will be the target.

Mike "Mish" Shedlock

Comments (53)
No. 1-25
Tengen
Tengen

Milennial anger would be better directed at the Fed, banksters, the MIC, etc but Boomers were more complicit in this mess than they'll readily admit.

As a Gen X'er I'm not terribly fond of any current American generation, including my own. We all played a part in this acrimonious society we see today and nobody made much effort to stop it. Seems unlikely history will be kind to any of us, at least on a generational level.

Mike Mish Shedlock
Mike Mish Shedlock

Editor

Absolutely - Anger should be directed at the Fed, at Bush, at Obama, at Congress, and at warmongers. There is plenty of blame to go around, but boomers are in charge of Congress, the Fed etc, and have been for years. Most likely, anger will be misdirected, but boomers will be the target.

I added Tengen's comment to the article. Thanks - Mish

Brother
Brother

It all depends if the "Monkey" was pulling just the low hanging fruit or the whole orchard.

MntGoat
MntGoat

Millennial professionals REALLY get screwed in CA especially. They have to pay the highest income tax in the nation, in some part to fund ridiculously massive boomer state retiree pensions. Milennials can't afford homes in CA because prices were RE-inflated by the boomers that run the Fed keeping rates at zero for 7 years and buying trillions in bonds to keep rates down. CA home prices are further inflated by prop 13 (keeps property taxes frozen - benefits boomers who bought 20-30 yrs ago, NOT millennials in the market today - so no incentive for boomers to ever sell). So millennials have to work long hours just to never get ahead because they have to pay a huge state income tax and grossly inflated rents/home prices. Yet they still vote unanimously for the Democrat boomers who run the state and keep the status quo the way it is!!! That shows the enormous power of school/media/hollywood indoctrination of CA milennials...keep voting in the people who screw you royally.

SMF
SMF

People are screwed by not paying attention and learning what politics is all about. The attempted bailout of the teachers retirement via an increase in the sales tax was passed under the guise of being 'for the children' as a typical example.