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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums40-Year-Olds, How Are You Doing?
Wed like to hear about how the U.S. economy is treating you.
By The New York Times Opinion
March 31, 2020
Are you better off than your parents? Research suggests that many Americans born in 1980 have had a harder time jumping up the economic ladder than the generation before.
The year 1980 also marked a rough turning point in the United States, where income, wealth, job security and economic opportunity began to diverge sharply for the most and least affluent Americans. That means that this current public health and economic crisis is catching them with varied levels of resources to draw on.
Were working on an article about the financial situations of people born in 1980 as we enter a recession. If youre turning 40 this year, please tell us what effect the economy has had on you.
Born in 1980? We want to hear from you
How have your financial and professional opportunities compared to those of your parents? How have your expectations about your job security and compensation compared with reality?*
https://www.nytimes.com/2020/03/31/opinion/inequality-1980-economy.html
Skidmore
(37,364 posts)Very few of any age group are doing well now.
BeckyDem
(8,361 posts)See that photo of Reagan holding the baby up? No more Republicans and their theft of a nation.
Initech
(100,054 posts)Ask me again when normal life resumes!
Zorro
(15,730 posts)Who was elected President in 1980?
BeckyDem
(8,361 posts)I hope people respond to the survey.
unc70
(6,110 posts)BeckyDem
(8,361 posts)SlogginThroughIt
(1,977 posts)It was who was elected in 1980....
BeckyDem
(8,361 posts)tritsofme
(17,372 posts)When did that happen?
madeup64
(257 posts)I love to point out that being born in 1980 I've lived through quite a few recessions, all occurring under a Republican president.
Now of course that is a bit misleading because the first Bush recession in 2001 probably wasn't all his fault as tech bubble burst but the statement is still technically true.
Also outside of OKC bombing/1st WTC bombing/Gulf oil spill the most memorable major catastrophes occured under GOP:
1987 Black Friday/ S&L Loan Crisis
1980's - HIV/AIDS
2001 - 9/11
2003 - Iraq
2005 - Katrina
2008 - Great Recession
2020 - Coronavirus pandemic
And then add in 2 WH victories while losing the popular vote!
Reaganomics!!! ☹
BeckyDem
(8,361 posts)ProfessorGAC
(64,951 posts)Oh, wait. It is a bad thing.
Oh, and welcome to DU?
madeup64
(257 posts)Don't post alot but I've actually found DU back in 2006-2007. I think I had to setup a new account after the 2016 election night hack.
I always wonder how it must have been pre-Reagan in America.
Zing Zing Zingbah
(6,496 posts)Zing Zing Zingbah
(6,496 posts)Still 40 for another few days though.
I am actually better off than my parents, but my parents were pretty low income. They did not got to college. I busted my butt to get where I am so that my kids would have it better than I did growing up. I graduated from college right after 9/11, which was a difficult time. My first job out of college was working at Blockbuster. It took about 5 years before I was able to get into a job related to my degree. I'm doing OK at the moment though. I'm not making big time money, but I have job that is mentally stimulating and pays me enough. I have flextime and I work from home. It works well with raising kids.
BeckyDem
(8,361 posts)Stay safe too.
DFW
(54,325 posts)They were born in 1983 and 1985. The one born in 1983 lives in the USA. She lost her job about 5 weeks ago, is now part of the volunteer force bringing food and supplies to the elderly and the immobile in New York City. Luckily, her husband makes enough to cover any shortfall.
The one born in 1985 moved back here to Germany about ten years ago after searching in vain for a decent job after graduating from law school in the USA. She is the brains of the outfit, and worked her ass off. She was named the youngest partner in a major US law firm a few years ago, and now makes a bloody fortune here in Europe. She makes three times what I do, and her S.O., with whom she shares a house and offspring, makes three times what she does.
So, while they aren't 40 yet, they are doing just fine. That is one weight removed form our shoulders.
BeckyDem
(8,361 posts)DFW
(54,325 posts)But seeing how they turned out, we think it was worth the effort.
Believe me, though, it was a LOOOOOOONG way from here:
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to here:
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BeckyDem
(8,361 posts)Congrats!!
DFW
(54,325 posts)But you're right, now it seems like it was a week instead of 35 years. Both of them look 10 years younger, but that's my wife's genes for you.
Four years ago, my wife was filling out a form at a doctor's office, and the nurse told her she had made a mistake with her date of birth. My wife may at times be absent-minded, but she rarely forgets her date of birth, so she asked what the problem was. The nurse said the year was incorrect, telling her, "if this year were correct, you'd have to be 64 years old." My wife said I AM 64 years old!" The nurse just stared and said, "wow...."