Comparing 25-34 year olds now to 25-34 year olds in 1989 is super depressing

A new analysis of data on the financial health of young people in the United States tells a frightening story about declining opportunity in America - a story of a generation saddled with crippling debt and forced to compete with older members of the workforce during a time of deep economic uncertainty.

The data was compiled by Washington, DC-based think tank, The Young Invincibles (YG).

Thanks to macro economic forces (like the Great Financial Crisis) and technological change, Millennials are "the most educated, most diverse, and most indebted generation in America's history."

What's worse, little is being done on Capitol Hill - or in state capitols around the country - to secure their futures and the future of this country. YG looked at a number of economic statistics for 25-34 year olds in 2013 and compared them to the same age group in 1989.

"The declines across education levels were so steep that young people today that have a degree with debt earn roughly the same as young workers with no degree in the late 1980s," said the report.

Racial disparities, especially between white Americans and African Americans, worsened dramatically. White young adults accumulated four times the assets, and are twice as likely to own a home as African Americans (and Latinos), for example.

So, it's not a pretty picture.