A first step to this exercise is the expand the statement to make sure that your rephrasing is expressing all the original ideas.
Idea #1: skepticism about the idea that one generation is inherently better or worse than another generation, specifically with regards to the WW2 generation
Idea #2: People have a tendency to rise to meet external challenges as it becomes necessary. So if Generation Y had a challenge as great as WW2, we would rise to meet it, and if the present day union leaders had a challenge as great as the historical labor movement, they would rise to meet it.
Idea #1: skepticism about the idea that one generation is inherently better or worse than another generation, specifically with regards to the WW2 generation
Idea #2: People have a tendency to rise to meet external challenges as it becomes necessary. So if Generation Y had a challenge as great as WW2, we would rise to meet it, and if the present day union leaders had a challenge as great as the historical labor movement, they would rise to meet it.
What else?