We don’t know enough of the methodology used in the PEW study described to be sure of the facts. Studies of economic inequality are notoriously skewed according to the biases of the researchers.
But simple observation suggests that the wealth gap between young and old is indeed growing wider and wider. And let’s not forget that the new healthcare law has not kicked in yet, but when it does young people will be charged much more for health insurance, because they will no longer qualify for rates that recognize how young and healthy they are. Moreover they will be required by law to buy the policies or face fines, all of which will make their financial picture even worse.
We have already noted that the President’s new proposals to help students with their education debts will just make that situation worse, not better, because it does not address the root of the problem, which lies in misdirected government subsidies. Even now the government is making money off its loans to students, which is outrageous.
Ironically young people supported President Obama more than any other group in 2008. It would be fair to say they have been betrayed.
Hunter Lewis 11-8-2011