In the past few decades, there's been a dramatic shift away from young Americans. It went from ~50/50 to ~75/25 in favor of older Americans.
Next, let's look at it by income percentile:
Similar shift but not as dramatic as the age one.
Interestingly, my first guess would have been that debt increase is the explanation here. E.g., housing costs are too high, student loads are crippling, etc. However, the liability share for young Americans has actually gone down:
There are many reasons for these trends and I am not an expert here so I won't even attempt to go into them. It's just striking when you see it plotted so directly.
If you'd like to play with the source data, I took this from here. It also has a plotting tool that lets you see stacked bar and area plots, so I didn't recreate those.
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