I believe the source of this conflict can be shown in a single graph.
The job market for older workers has somewhat recovered under Obama - but only for workers over 55.
Based on this graph you can see why Millenials might harbor some resentment.
But there is more to this story than this one graph displays.
Older is not better
No one is doubting that the workforce participation rate is dropping. Some of those that view the glass as half-full suggest that it is because Baby Boomers are retiring.
The problem with that theory is that it doesn't match up with data.
Nearly two-thirds of Americans between the ages of 45 and 60 say they plan to delay retirement, according to a report to be released Friday by the Conference Board. That was a steep jump from just two years earlier, when the group found that 42% of respondents expected to put off retirement.
The increase was driven by the financial losses, layoffs and income stagnation sustained during the last few years of recession and recovery...
Why are older workers not retiring? Because their 401k's are a disaster. 30% of working housholds have less than $1,000 in savings, and 60% of retired households rely on Social Security for a majority of their income.
Also, because older people are more often home owners, they have been hit harder by the housing bust. (Despite what you may have heard, the housing market hasn't come back for the average homeowner)