Remember not long ago when the narrative that the American Dream was dead, and kids were no longer on pace to perform as well as their parents let alone do better? Funny what happens when you make American Great again.
A little more than a year into the first normal US economy, 3%+ growth, in thirteen years the American dream and promise are back in full effect. According to the Pew Research Center adults between the ages of 22 to 37 are not just back to doing as well as their parents at the same age. They are doing better than any generation of adults has ever done, even when adjusting for inflation. In fact, not just better but crushing it. Let's take a look at household income by generation at the same age.
- Boomers: $42,700
- X’ers: $44,900
- Millennials: $52,800
That is a freaking fantastic storyline. Millennials are making 24% more than Boomers and 18% more than X’ers. That’s a huge win and continued testament to the power of American free enterprise when the government gives us enough room to succeed.
Photo by: MANDEL NGAN/AFP/Getty Images