Impact of U.S. debt on Generation Z

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Published 2024-05-08
In a recent op-ed, a former White House economist and a former Labor Department employee warn of the burden U.S. debt will have on Gen Z and blame mistakes by the Treasury Department when interest rates were low. CBS News business analyst Jill Schlesinger has more.

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All Comments (21)
  • @monke234saru
    Boomers: Go to college or you won’t be able to get a job Also boomers: Why did you go to college when you know it’s expensive
  • @Rej-gc5zi
    I'm 25 and I will never see a dime of social security, why should the people today?
  • Lots of angry young people with nothing to lose is a recipe for disaster for the country
  • Boomers don’t care about their kids. Plain and simple. Out of sight out of mind
  • In 2010 I was able to rent a four bedroom house for $900 a month now that same property would cost 3 to 4 grand. This is not fair for the younger generation.
  • It's not only the Treasury Department that messed up, but the Fed for keeping interest rates too low for too long. Everyone - consumers, corporations, and governments - filled up on cheap debt, and now it can only be refinanced at much higher rates. We are in deep trouble.
  • @ThatDude-vw7ge
    GenZ aint paying for this and they aint having enough kids to pay for this
  • @Mattmann97
    “I’m sorry that that’s a bummer” she said to the millions of destitute young people begging for help. This segment was tone deaf, and that’s putting it nicely.
  • Time to revolt, kids. Things will never get better until you do.
  • @Calahad81
    Lots of laughter in this segment for such a serious topic.
  • @kevinjones5457
    She didnt even mention tax income is less than total interest.
  • These companies are predatory as all hell. I got out of debt and they kept sending card applications and so called benefits, nonstop in the mail. I tear them up every time and it shows how much they want young irresponsible people to get into debt.
  • @Aunny123
    They’re laughing at all of us.
  • @jamesrenaud592
    "The absolute number doesn't matter, we're never going to zero." What a hideous statement.
  • @SahilKhan-yt7ql
    Crazy how they laugh in our faces and treat the situation so lighthearted
  • @4X4ish
    Who TF put this government in charge of our money?