Comments | wellah: Book Challenge Update 2006

wellah

Book Challenge Update 2006

Jun 13, 2006 10:49

54. Strapped: Why America's 20- and 30-somethings can't get ahead - Tamara Draut - 237 pages. A non-fiction investigation into the problems younger people have today, including huge school debt, lack of opportunities, housing dearth and many more. Interesting topic, but the writing was pretty dry, and the vast # of note/references which appeared ( Read more... )

reading, draut, books, pearson, book challenge

Comments 6

gutterboylive June 13 2006, 18:14:27 UTC

I was interested in reading Strapped, but from the reviews it seemed that it was aimed at a narrow sliver of younger people: the ones who managed to go to college, and more specifically the ones who piled up a bunch of stupid student debt.

What I was hoping to read was a sociological look at the financial challenges facing 20-somethings in 2006 vs., say, 1946 -- a year where many people in their twenties were buying their first house and entering the middle class.

Or am I wrong? It just seemed to assume that everyone in his/her twenties was upper-middle-class.

wellah June 13 2006, 18:24:15 UTC

No she covers blue collar folks as well and points out that back in the 70's when folks got out of HS, they could earn almost the same dollar for dollar as someone with a degree and about how that is gone.

Most of her data is 2000 compared with 1972 in 2000 dollars. She does cover the major levels, and shows how each group is shafted nowadays. The focus is however on those who are under 34.

gutterboylive June 13 2006, 18:42:03 UTC

OK. I may pick it up, then.

Just tired of stories about post-collegians who ran up the 1-2 debt whammy (unsecured credit cards + ridiculous tuition fees) and how it's not faaaair.

wellah June 13 2006, 18:46:14 UTC

It is available at the li-berry too, since that is where I got it from. No $$ out of your pocket that way (unless you turn it back in late)!

_chasca_ June 13 2006, 18:15:28 UTC

Why is lack of subsidized childcare the problem and not the pressure to spend money like it grows on trees? I see people my age that feel like they have to have the latest car, the newest iPod, the best cell phone, the nicest clothes, etc. I think that's a larger issue than government sponsored childcare.

wellah June 13 2006, 18:27:29 UTC

She does cover how credit card debt starts with the hard sells in College, and talks about how Housing and health insurance are such huge parts of the monthly bills, plus student loan payments that people can't begin to start saving until they are 10+ years out from school. Oh, and how 2006 $$ are way less in value than 1972$$.

Her claims is that a lot of the cc debt comes from groceries, medical bills, gasoline, and the requirements of living rather than exhorbitant spending.

It's just not the best-written or most insightful book on the topic.