Every generation has it's challenges. Yours is no different...though through design and because your parents were such schmucks who handed you >everything< on a platter without any effort on your part and bought you the latest gaming consoles every 6 months when they came out so you could get by doing nothing but playing video games all day, you believe it is...just as the article points out (delusional/special/all about me) Not.
I agree with some of this.
Every generation does have it's challenges to be sure, and I think that ours will come out of this one better for it (as have the other generations come through theirs).
End of the day though I think it's a bit silly to tank the economy, ruin the prospects of higher education, gut the manufacturing sector and then point the finger at a bunch of 20 and 30 year olds and tell them how much better they should be doing--or how they would be happier if they didn't feel so entitled.
One of the challenges of your generation has been running the goddamn country and keeping together long standing institutions such that they might be passed on to the next generation.
With that said, yes it is quite obvious that Gen Y has been coddled too much. No one is denying that. While I don't think it's fair to paint the entire generation with that brush (I bought every gaming console/etc. I've ever owned with money I earned from a job--not allowance, which I was not given) I do think the brush doesn't do such a bad job of painting the picture of reality. Stereotypes never tell the whole story, but as stereotypes go this is a pretty effective one.
I'm not saying Generation Y is awesome as hell. They are almost every bit what you've made them out to be. I'm just saying Boomers/Gen X'ers screwed the pooch in ways never before seen in America since it's inception and that they probably aren't the best generation to be pointing fingers.
Sure you had to work hard for what you got--but when it mattered what did you do with the country? You flushed the fuckin' thing down the drain.
Gen Y'ers aren't the best generation, not by a long shot--but there IS context as to some of it's failings which is, by and large, left out when being discussed by older generations.
We aren't the dumbest generation ONLY because of videogames--the fact that about half as much was spent comparatively to educate us also plays into that a bit, wouldn't you agree? I mean it only makes sense.
I think the article hits the nail on the head, but just leaves out some of the hows and whys. History is cumulative, it doesn't just begin all of a sudden when a particular generation comes of age.