Young adults are pessimistic their economic future, and young African Americans and “Hispanics” are becoming angry a major new survey reveals. African American and “Hispanics” argue that “the social contract is broken, and 4 in 5 (African American 88%, Hispanics 80%) agree the government should help those who are struggling. Even more, they believe the government has greater responsibility (66% African Americans and 56% Hispanics) than other groups.” Young whites also have a stronger orientation toward a change in government policy than older generations. This shift in attitudes toward the economy will have long time consequences for how politics is done in this country. Will it make a difference in how we do church? Unitarian Universalists have worked for generations with the assumption that their natural constituency is the aspiring middle class, but individuals form their attitudes about the “American dream” and how they fit into the society based on experiences that they have when they are coming of age.
The coming of age is experience today is about debt and insufficient income to consume in the way that their parents taught them to consume. Christine M writes: my generation dreams about having money because most of us are broke.
In truth, I feel like I have a lot more in common with Generation X, which can run the scope of those born between 1965 to 1981, and seems that this group is paired with Generation 2.0's lack of financial funds. Young and broke go hand in hand for us like rock and roll. Money expert Suze Orman even has a book titled The Money Book for the Young, Fabulous and Broke for "Generation Broke", people in their 20s and 30s who are over their heads in student loans, credit card debt, and lack of savings or investments.
MSNBC has an article on the very high level of credit card and student debt being carried by young adults, any of whom have entry level jobs and experience themselves as being shut out of the housing market.
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