So argued economist Ed Leamer in a piece I wrote that the Reporter ran last week:
“I see a lot of kids who are really struggling, and it’s very troubling to me,” he said. “I think we’re looking at an abused generation. A lot of kids are graduating from college with a huge amount of debt. They’re going into a poorly functioning economy, and as a group, they’re taking on huge levels of public debt with pensions and other obligations."
This recession has a lot of strange ironies that have not been well-discussed. Much of the public anger (about debt and such) is found at the older end of the age spectrum, but our seniors have suffered much less from this recession than have the younger generation, according to a plethora of stats. Curious.
Kit Stolz 