Your momma told you to stay in school. And she was right. As this graph illustrates from econompicdata.blogspot.com, if you have a college degree you are much more likely to be better off than not. How much, well with a college degree your cohort unemployment rate is roughly 4%, but with only a high school degree your cohort is facing an unemployment rate of 10%.
One implication of this stratification (as highlighted by M. Yglesias) is that those making the decision on how to deal with the economic crisis (Congress, Staffers, federal and state governments) work and live their lives in a cohort that isn't hurt too bad by the downturn. Sure, they see it, but they don't feel it. I don't know how you rectify this problem, but it is something to consider.