really started back in the ‘80s, when older generations started using government deficits and personal debt/leverage in a major way, to build our prosperity. It his its (first) peak when the untenable debt load caused the 2008 financial crisis and the resulting Great Recession — Millenials had almost nothing to do with that.
As for today’s massive Federal deficits and debt, Millenials and other young people did not create them, but they will inherit them and pay the bill.