I think it is trite and unsympathetic to broadly paint millennials as lazy and entitled. Their generation started off behind and have some serious headwinds.

The income and opportunity hits are coming on top of things like education costs, housing, and medical costs skyrocketing. In all of these, who has benefited most from the raising costs? In addition, social security and Medicare have been expanded while the effective tax rates of the wealthy to pay for these have decreased. Who benefits most from this?

Are their spending habits as a generation perfect? No, and some of the student loan debt is excessive due to their own decisions. But most studies I have seen say at comparable ages, they are a generation that saves at a higher rate than their parents, earns at a lower rate, has more school and housing debt albeit with less home ownership, and less overall wealth (the first generation to be poorer than their parents).

In addition, they will be tasked with having fewer workers in the workforce to support retirees' social security and Medicare, a national debt load than their parents' generation, and government spending that has been raising without a party to cut it back since Clinton was in office (brief Tea Party movement aside).

It can be a pretty bleak looking macro level financial picture. I can understand their angst.