Downturn takes heaviest toll on younger Americans

Charles Rex Arbogast / AP

We know this to be true firsthand, as most of the CDOA team is under 35! Just the ability to go to a doctor or get a much needed prescription filled is out of reach for so many young Americans. Our prayers and support are with those standing up against the injustice.

From MSNBC:

The lingering economic downturn is taking a toll on virtually everyone, but Americans under 35 are faring far worse than those over 65.

That’s the finding of a new analysis of government data by the Pew Research Center, which found that older adults have enjoyed big financial gains — in wealth, income and homeownership — as households headed by those under 35 have lost ground.

The fortunes of young and old households have been diverging for decades. But the Pew report found the disparity cuts across a broad range of measures of economic well-being and has been amplified by the recession that began in 2007.

“If these patterns continue, it starts to call into question one of the most basic tenets of the American dream, which is that each generation does better than the one that came before it,” said Paul Taylor, executive vice president of the Pew Research Center and co-author of the study.

Read the complete report here

2012-08-24T02:18:07+00:00

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