Required reading for those interested in generational economics and politics.
"For a quarter-century, policies that once promoted entry into the middle class, such as affordable college tuition and support for first-time homeownership, have been battered by ideological and fiscal assault. Social investment has not kept up with changing social realities, and the remnant of America's welfare state is tilted toward the other end of the age spectrum. The solution is not, as some have suggested, to remove supports from the elderly. Reliable pensions and Medicare are also on the defensive. The remedy is to enlarge social investment for the young, to expand economic pathways to secure adulthood. With the exception of the generation born between roughly 1880 and 1910, whose members lost so much as adults in the Great Depression, there has never been an extended period of generational downward mobility comparable to this one -- and it is all the more remarkable for occurring during a period of general economic growth. "