Generation Debt
How Our Future Was Sold Out for Student Loans, Bad Jobs, No Benefits, and Tax Cu ts for Rich Geezers--And How to Fight Back
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- $9.99
Publisher Description
Generation Debt offers a truly gripping account of how young Americans are being ground down by low wages, high taxes, huge student loans, sky-high housing prices, not to mention the impending retirement of their baby boomer parents. Twenty-four-year-old Anya Kamenetz examines this issue from every angle and provides a riveting, rousing manifesto that will inspire everyone to take care of their financial future.
PUBLISHERS WEEKLY
Surveying the economic realities facing today's 20- and 30-somethings, 24-four-old Kamenetz decides, "It's not too dramatic to say that the nation is abandoning its children." Thanks to skyrocketing tuition and changes in federal funding, college students are graduating with an average of almost $20,000 in loans at the same time that jobs have become scarcer, real wages have dropped and the cost of health care has soared. Is it any wonder that kids are boomeranging home and racking up credit card debt? Kamenetz, who first wrote about these issues for the Village Voice, intertwines an analytical overview of the new economic obstacles with interviews of the financially strapped and descriptions of her own experience struggling to make ends meet as a freelance journalist. Her book is livelier than Tamara Draut's similarly themed Strapped, but lighter in its analysis of law and policy. Most interestingly, Kamenetz documents how our perception of the crisis is shaped by self-centered boomers who have lost touch with their children's plight. More of a white paper than a guidebook, this volume doesn't offer under-40s much personal financial advice (that job is taken up by Gener@tion Debt, see review below). It does, however, make clear how imperative it is that we find solutions to these problems as quickly as possible.