Economy deferring adulthood, study says

Washington Times ^ | 1/14/04 | Jennifer Harper

[Cronos]

Twenty years ago a high school drop out could get a job in construction, trucking, or manufacturing, and still do pretty well for himself. Well enough to own a car and afford some type of housing, by the age of twenty Times have changed. In fact the change in the past century has been greater than that in the previous millenium or two. 20 years ago we didn't have cell phones, the internet, cheap bandwidth, etc. And most importantly, we didn't have so many:
a. people,
b. educated people,
c. highly educated people.

Twenty years ago, a college degree was for the few, now it's almost commonplace. Twenty years ago, a college degree guaranteed a good paying job, now there are more applicants -- the law of supply and demand.

[Cronos]

In raising the boat of third world nations we have sunk the boats of many average Americans.

The problem is that the labour market always expands. In the 19th century and early 20th, more immigrants came into this country, flooding the job market. It can't be stopped without being detrimental to the country as a whole. yes, it is hard on individuals, but the country prospers -- that's why we have had 7% GDP growth rates recently and we're the only major developed economy that is growing. tHe Japanese have shut the 'gaijin' out and look where they are now.

[Cronos]

The problem is the welfare system. The idea of the next generation paying for the current is based on an ever increasing population -- it's not sustainable. We can stop that now, but the baby boomers want to be paid. STop the dole and we'd get folks actually looking for work instead of sitting on their b****

[wtc911]

Things were always tough for some. At 19 I was working 48hrs then 56hrs per week on a rotation (and it was a union job). I had to kick in half of what I made to the house. The other option was move out which I did at 21, for good, once out there's no reason short of illness to go back and burden the folks. There was never any animosity, my family was and still remains very close.

All my college was paid for by me. All my debts were paid by me. Everything I have I got. All the same goes for my brother.

My grown son has been out since after college. He's paying for his own Master's and all his own bills. I have zero sympathy and less respect for these X,Y,Zers who can't cut it and moan about how my generation is going to bancrupt them.

[wtc911]

Things were always tough for some. At 19 I was working 48hrs then 56hrs per week on a rotation (and it was a union job). I had to kick in half of what I made to the house. The other option was move out which I did at 21, for good, once out there's no reason short of illness to go back and burden the folks. There was never any animosity, my family was and still remains very close.

All my college was paid for by me. All my debts were paid by me. Everything I have I got. All the same goes for my brother.

My grown son has been out since after college. He's paying for his own Master's and all his own bills. I have zero sympathy and less respect for these X,Y,Zers who can't cut it and moan about how my generation is going to bancrupt them.

[Prime Choice]

I agree with you, but in the 1950s you probably would have accomplished the same thing after a couple of years of work.

Funny, but my father made his start during that time. As I recall, he was trained in electronics by the U.S. Government during the Korean conflict and got a bachelor's degree in electrical engineering which landed him a career with IBM. Yet he still had to live far beneath his means for several years in order to save for a down payment house (which was "only" $11,000 at the time of purchase). Every car the man had from initial independence until the late 1970s was a used car.

Sorry, it doesn't wash. Our parents, no matter how successful, didn't have it as easy as you claim.

[Aquinasfan]

Sorry, it doesn't wash. Our parents, no matter how successful, didn't have it as easy as you claim.

Compare the tax rates.

[MissAmericanPie]

There is no legitimate comparison between the 1900's and now. It's like comparing a cow to a whale, they are both air breathing mammals but...

Industry and manufacturing was booming. Tariffs protected the American worker, we were not operating under a trade deficit that runs into the billions.

While other nations avail themselves of the perks of artificially manipulated Free Trade, while still protecting the wealth and citizens using tariffs and closed markets, the USofA sacrifices it's citizens on the awful altar of this false idol.

The American worker is swimming up stream against a tide of illegals that depress wages and lower their living standard making the American Dream possible for any and everyone else BUT them. As well as dragging around the 100lb weight of artificially valued foreign money against the value of the US dollar.

There are no new industires, no new manufacturing, and no job markets being created that does not involve flipping burgers. If we allow it to continue we deserve what we get.

[Prime Choice]

Compare the tax rates.

To what end? Sure, taxes suck and all that, but I don't for a moment believe they hold anyone back who has a sincere desire to succeed. Taxes are just part & parcel of this world in which we live. Claiming one can't get ahead because of taxes is a cop-out. You pay your dues. That's what life is all about: taking on adversity, not hiding from it.

[Cronos]

We've made and are making a lot of money from selling across the world and removing trade barriers.

[MissAmericanPie]

In case you haven't been paying attention to the plus and minus column, the net loss far and away exceeds the net gains. Some in America have forgotten that there is more to being a nation than mere economics.

The American consumer is a tool that should be used to used to our advantage.

[Cronos]

Our countries economy is booming and we can all get a piece of that if we work hard at it. Come on, our nation was made of entrepreneurs, people who came up with a better idea and made money. Anything else smacks too much of socialism