I'd really like to tackle this absurd idea that our generation (in the West, anyway) is worse off than our parents.
It's true that we've had to deal with certain political and international issues, and periods of high unemployment... but even with all of that said, if we're poor, a lot of the time it has to do with us buying xboxes and ipods, having kids before we're prepared for them, eating out a lot, and stuff like that.
There's no doubt that there are huge problems our generation has to overcome, like a lack of job security and health care issues, but when it comes to dollars and cents, we've got it pretty good. Frankly, if you're single and making $24k+ a year, or if you're married and making $40k a year, you should be able to live a very awesome lifestyle without sacrificing anything at all.
I know, because I'm single and I'm forecasting spending $24k a year, and that's with international travel, eating out multiple times each month, and all sorts of other luxuries.