Long time reader, first time I've actually felt the need to post.
I went to a middle-of-the-road college. At the time, going in (1998), I was told that choosing IT was a GREAT move and I'd immediately make AT LEAST $60-80k right out of school.
During college, I watched the tech bubble burst, watched 9/11 happen, and noticed pretty quickly that I wasn't actually learning anything other than theory. Did I blindly charge ahead thinking "well, this theory will really pay off eventually?" No, I got a job in a computer lab (worked my way up to running the day-to-day operations there), started a chapter of the ACM with some friends to learn more out of class (and teach others at the same time), and got a pretty good internship, to try to set myself apart from the pack a bit.
The result? I graduated in '03 (yea, yea, it took me 5 years) with a worse GPA than Ms. Entitlement into a pretty bad economy. I tried to use my school's job-finding services, saw they were a joke, and instead worked my ass off to find a job on my own. My friends all did the same in one way or another.
The morale of all this? That was 6 years ago. Same basic generation, my mindset (and most people I know had the same one) was that we were obviously lied to many times so fuck what everyone else was telling us, we just had to go out there and hustle ourselves into jobs and do it on our own.
(and yes, when I was a kid, I do remember everyone getting trophies after the soccer season and in little league, so don't blame that, either)
So don't blame a whole generation, it's just a bunch of lazy-ass kids who weren't smart enough to see the signs and handle life like they should.
-Jed
PS: In case you're wondering, no, I didn't get a good job right out of school. I couldn't find ANY job right out of school. So after a few months of looking, I took a crappy data entry temp job, worked there till I found perm data entry job which had some small IT bits to it, then moved to a job where I was a recruiter, and worked my way up in that company to in-house IT, then up to head of IT there, now sys admin for a branch of a larger office. So nothing handed to me, I worked my way up like I should and am still working on climbing the ladder.
Any given program, when running, is obsolete.