2016 Postmortem
In reply to the discussion: When I was a "millennial," I never expected candidates to "inspire" me [View all]jake335544
(53 posts)which may be why Harvard was a good stopping block for Obama to talk about voting turnouts...but not so much for everyone else.
Why in the world are you quoting speech writers of a guy who put guys like Gensler in his cabinet during a recession in his first term, who put Medicare and SS on the chopping block in the name of "shared sacrifices" in one of the wealthiest countries in the world (only to have Harry Reid cut that nonsense out thank God) criticizing people for not voting? Has this election not given you second thoughts yet as to how horrible we reacted to the '08 crisis, and therefore why we performed so poorly at the polls after a sort-of supermajority for a year?
But go ahead and try to twist these numbers..
16% of American adults were in the lowest income tier when boomers were entering their 20s in 1971
*Now* the younger generation is growing up with 20% of American adults in the lowest income tier
Between 1948-1973, productivity and compensation soared almost completely in tandem.
Since then compensation has been relatively flat and everyone is working much, much harder. Productivity is soaring.
Gen Xers lost about 50% average of their wealth after the Great Recession, boomers lost about 25%. That's a doubling btw generations.
https://www.bloomberg.com/news/articles/2011-09-08/generation-x-reality-bites
The Great Recession has hurt boomers, but millenials are trying to become an adult in it, and Xers bared the brunt of it.