The times they are a changing.
Via PEW Research Center:
As they continue to struggle with the effects of the Great Recession, publics in advanced economies are pessimistic about the financial prospects for the next generation. Most of those surveyed in richer nations think children in their country will be worse off financially than their parents. In contrast, emerging and developing nations are more optimistic that the next generation will have a higher standard of living.
Asians are particularly optimistic about the next generation’s financial prospects. Fully 94% of Vietnamese, 85% of Chinese, 71% of Bangladeshis, and 67% of Indians think today’s children will be better off than their parents. Africans and Latin Americans are also on balance optimistic, while Middle Easterners tend to be pessimistic. And in Europe and the United States, pessimism is pervasive.
Was this the “exceptionalism” Obama was talking about?
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