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Boomers | Munk Debates

EPISODE #14

Boomers

Be it resolved, Baby Boomers have ruined the future for Millennials

Guests
Lyman Stone
Stephen Moore

About this episode

Millennials born to the Baby Boom generation are facing a different world then their parents did at their age. Income inequality, wage stagnation, loss of job security, unaffordable housing, rising debt, climate change – these are just some of the challenges waiting for millennials and Gen Z after they graduate, and many believe their parents are to blame for the unfortunate conditions they now find themselves in. Critics disagree – they say Boomers made incredible sacrifices and paved the way for a more just and equal society – one which allows their children to flourish.

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Guests

Lyman Stone

"We live in a time when a young person is not going to experience the same uplift that previous generations had. They're not going to have the same opportunities."

Lyman Stone

"We live in a time when a young person is not going to experience the same uplift that previous generations had. They're not going to have the same opportunities."

"Lyman Stone is the Chief Information Officer of the population consulting firm Demographic Intelligence, a Research Fellow at the Institute for Family Studies, an Adjunct Fellow at the American Enterprise Institute, and a Senior Contributor to The Federalist. He has been published in the New York Times, Washington Post, Wall Street Journal, Boston Globe, South China Morning Post, and elsewhere. He, his wife, Ruth, and their daughter Suzannah live in Hong Kong."
 

Stephen Moore

"The millennial generation grew up at a time when everybody got a trophy. This is the generation that now believes that they should have their safe spaces"

Stephen Moore

"The millennial generation grew up at a time when everybody got a trophy. This is the generation that now believes that they should have their safe spaces"

Stephen Moore is the senior economic contributor for FreedomWorks. Stephen previously served as president of the Club for Growth, chief economist of the Heritage Foundation, and as a member of the Wall Street Journal editorial board.

Stephen Moore served as a Senior Economic Adviser to Donald Trump, where he focused on tax reform, regulatory reform and energy policy. In addition to this role, Moore is a Heritage visiting senior fellow and a Senior Economic Analyst at CNN.

During his career, Moore has served as a senior economist at the Congressional Joint Economic Committee, and as a senior economics fellow at the Cato Institute, where he published dozens of studies on federal and state fiscal policy. He advised the National Economic Commission in 1987, and served as a research director for President Reagan's Commission on Privatization.

Show Notes

Read Lyman Stone’s article on the Baby Boomers “ruining America” here.
 
Read Stephen Moore’s defense of Baby Boomers in the Wall Street Journal here.
 
Stephen Moore talks about the advancement in healthcare, and cures we can expect to see in the next 20-30 years. The Economist looked at future medical advancements and how they might change the way we live.
 
Lyman mentions how US household wealth has increased since the great recession for those over age 35, but not for those under age 35. Here is a look at how wealth inequality has changed in the US since 2007, and which groups have been most affected.
 
The homeownership rate among millennials, ages 25 to 34, is approximately 8 percentage points lower than it was for Gen Xers and baby boomers. 53% say it’s because they can’t afford a home, while 33% can’t qualify for a mortgage. 28% say it is more convenient to rent than to buy.
 
Recent surveys show millennials are more concerned about their debt than previous generations. 81% of early-adult US households carry a collective debt of nearly $2 trillion. The debt includes car loans and mortgages but is mainly made up of student-loan debt and credit-card debt. Millennials living in cities have higher rates of non-mortgage debt
 
Lyman talks about decline US mortality rates. Life expectancy in the U.S. decreased for three consecutive years, driven by higher rates of death among middle aged Americans due to drug overdoses, alcohol abuse, suicides, and lack of access to healthcare.
 
 

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