Another way to look at it is that we're so rich as a society that we can afford for most of our young people to take a four year vacation where they sex it up and dabble in underwater basket weaving.

Yet another way is to look at as the result of a shrinking job market and job pipeline clogged by boomers who won't retire. If there is no work, and there isn't, reducing eveyone's working life by 4 years isn't unreasonable.