I had similar experiences in the Sacramento area, but almost exactly one decade after you (probably ten years younger) - the idea that stings me the most is the

I had similar experiences in the Sacramento area, but almost exactly one decade after you (probably ten years younger) - the idea that stings me the most is the "door to inexpensive public education" being slammed shut - I've got to say that the door being slammed has greatly accelerated these past 6 years, as tuition has jumped. In the 70s, education at a UC school was nearly free. Today it costs $30k/year including your fees, books and living expenses. In light of flat income growth, that means families either work more or do without. The scary thing (for me) is that we're reaching the maximum of the "work more" strategy when both parents work 1+ jobs. Where do people go from here, considering that they've reached the maximum of their family's earning potential while prices are still rising? I suspect that we're seeing the beginning of the real decline these past few years - with not only stagnant real income growth, but a decline in the amount of things we can afford, and that means less college education, a less educated work force, and rapidly accelerating (if it wasn't already) income inequality. When you're priced out of a good education (can't afford one) that's when we cease to be a merit-based society where able people work their way up. That's the end of the American Dream in not so many words.