This document contains witness testimonies and prepared statements from the Congressional hearing called to examine the emotional and financial interdependence of families across generations and their common stake in programs for both young and old. It also takes a critical look at what some see as an emerging conflict between old and young due to financial pressures on families. Opening statements are included from Congressmen Edward R. Roybal, Bill Richardson, Dan Mica, Mike Synar, Robert A. Borski, Richard M. Stallings, and Helen Delich Bentley. Joseph Giordano, a physician at George Washington University Hospital, testifies about the economic and emotional interdependence of generations. Humphrey Taylor, president of Louis Harris and Associates, Inc., discusses the significance of public opinion in relation to issues of potential intergenerational conflict. Mary Bourdette, the director of government affairs for the Children's Defense Fund, discusses the need to invest in children and in their development into healthy and self-sufficient adults. Eric Kingson, a project director with the Gerontological Society of America, presents findings from the Gerontological Society's first report on emerging issues on aging. Paul S. Hewitt, president of Americans for Gerontological Equity, emphasizes the need to invest in families. Appendix 1 contains a summary of Eric Kingson's report "The Common Stake: The Interdependence of Generations" and appendix 2 contains relevant materials and prepared statements submitted for the record. (NB)