Since the drinking age was raised to 21 tens of thousands of lives have been saved not to mention injuries, rapes, property destruction. From a public health perspective, raising the legal drinking age from 18 to 21 has been a huge success. However, critics have been concerned about the amount of binge drinking that occurs especially in the first couple of years of college which has lead some opinion leaders to suggest that the drinking age should be lowered again to 18.
While this is a serious discussion, I think the arguments for lowering the drinking age are largely without merit. Here's a satirical piece from The Onion on Teenagers and Alcohol.