India, Aug. 7 -- Gen X is facing a major money and confidence crisis as it enters the middle years of life. Generation X, generally people in their 40s and 50s, has become the most economically pessimistic generation in the US, with rising costs and growing financial pressure affecting how it views the economy. The generation once known for its "Slacker" image is now dealing with a serious midlife financial squeeze.

A new study from the Conference Board found that Gen X has reported the weakest consumer confidence levels among the generations measured. Axios reported on the findings, showing that Gen X is much more worried about the economy than younger Americans.

Economists say part of the problem may not be financial alone. Research h...