Millennials face 'dismal' financial future

Published: Wednesday, Aug. 1 2012 12:00 a.m. MDT

Our take: In a piece titled "Are millennials the screwed generation?," The Daily Beast looks at the now record-breaking wealth gap between today's youths and their parents. The article details how the older generation's inability to live within its means is impacting children, showing up in high unemployment rates, overwhelming debt and delayed advancements into adulthood.

Today’s youth, both here and abroad, have been screwed by their parents’ fiscal profligacy and economic mismanagement. Neil Howe, a leading generational theorist, cites the “greed, shortsightedness, and blind partisanship” of the boomers, of whom he is one, for having “brought the global economy to its knees.”

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