And those assumptions were? Do you disagree with my statement? If so, why?
I disagree with your statement. The world isn't the same as it was for our parents. Our parents could get out of high school, get a job with a pension and health plan, make $X amount of dollars a year, buy a car for X/4 and a house for 3X. They'd be 3X in debt, but able to pay it all of in 15 years with a pension and a health plan.
Now? You go to school. That debt costs you 1.5X. Your house is 3X. Your car is X/3. You make X. Healthcare costs you X/10. Your pension costs you X/10. Oh, and your payments? 30 years, not 15.
Look at the two.
Option 1 to get started: 3X+(X/4).
Option 2 to get started: 4.5X + (16X/30).
And that doesn't even take into account that Option 2 requires you to pay your debt for twice as long as Option 1.
Oh, and your parents? They have no savings, they have no pensions (because they cashed out their pensions in the early 90's for that new house), they own no house, and they have $25,000 in credit card debt.
Yet, we expect this generation to do better?
It's a joke. The baby boomer generation is easily the worst generation to grace this earth. At some point, they need to step up put their share in. But, they won't. They will keep working, taking jobs from the younger generation. They will soak up Social Security, because they didn't fund their retirements. They will suck up medicare, because they are all fat and out of shape. And then when they die? They won't leave you anything, because they have nothing to leave.
They've destroyed the American Dream in one generation. Good old Reaganomics and being self sufficient, right? If we only worked as hard as they did, right? lol.
The baby boomers have gamed the system to benefit them and implode when they leave. If they are going to stay employed, if they are going to eat up the resources and be such a big drain, make them pitch in their fair share.
And if that means higher taxes on them, fine. If that means letting students stay on health insurance, then fine.
You get nothing for free in this world, yet that generation thinks that is the American Dream.