Declining fortunes

American society has reneged on its promise to the baby-boom generation. Young people for the first time find themselves unable to duplicate, let alone surpass, their own parents' standard of living. Although the media are filled with images of high-living yuppies, the realities for this generation of adults are far bleaker: home ownership rates are falling precipitously, pink slips cascade from corporate headquarters, and costs of raising a family rise threateningly. How are Americans coming to grips with declining fortunes? Based on years of probing research and candid interviews with…