These aren’t decisions. Capital tightens as the rate of profit falls. Austerity is a force like gravity. There’s nothing the boomers could have done that would resulted in a different outcome except to overthrow capitalism.

None of the efforts from “subsequent generations” will be able to reverse this trend and “counteract” these decisions. You won’t ever get these things back without major social upheaval and revolutionary actions. It will be even worse for your children and grandchildren, if nothing is done and we stumble onwards. They will blame your generation for pulling up the ladder too if they use your logic.