Living at home after college just isn’t cool, and young people are blaming the Obama Administration.
The Huffington Post, the queen of leftist news sites, reports that college students and recent grads are dissatisfied because young people—saddled with record student loan debt and an abysmal job market—are being forced to move back home with Mom and Dad.
HuffPo reports that this year up to 85 percent of college grads will be forced to live with their parents because they can’t find sufficient work. For those who are lucky enough to find work, the median salary for 2009 and 2010 grads is $27,000 compared to $30,000 for those who graduated between 2006 and 2008.
And, connecting this story to another Huffington Post article, “Newly Graduated And Drowning In Six Figures Of Student Loan Debt,” college grads are stuck at home with no way to pay off their student loans. Student loan debt has exceeded credit card debt, and young people have no way to pay for either.
It should be no surprise then that earlier last month, The Atlantic published an article online pointing out that the president’s job approval among ages 18 to 29 has dropped 10 points since the beginning of his administration.
Reality is setting in, and it’s setting in hard. Young people and even some in the liberal media aren’t afraid to oppose the Obama Administration.
A New York Times piece, “A Love Affair with Obama that Cooled,” about Oberlin College documents how the Obama Administration has disappointed college students by failing to live up to the president’s lofty promises and rhetoric.
National Journals’ Jim Tankersly reports that “snowballing youth unemployment feeds social unrest,” and our current youth unemployment, 17.3 percent (ages 16 to 24), is the highest it’s been in nearly 30 years.
America’s youth misery index (average student loan debt [in thousands] plus youth unemployment) is at an all-time high, and the core of the liberal movement—the media and college campuses—are starting to blame the Obama Administration’s failed jobs policies.
Government spending, like the stimulus, takes productive money out of the private sector, stimulating the corruption-ridden government largess rather than creating real jobs. When the government permanently returns money to the private sector through tax cuts, businesses create real jobs and youth unemployment falls.
On August 12, Young America’s Foundation celebrated the 30th anniversary of President Reagan signing the largest tax cut in American history into law at the location where he signed the bill, Rancho Del Cielo in Santa Barbara, California.
After President Ronald Reagan’s historic tax cuts, America experienced its longest sustained period of economic growth ever, and youth unemployment dropped nearly five points in four years (1982 to 1986).
While the liberal media never gave credit to President Reagan, young people overwhelmingly supported his reelection campaign in 1984. Now that youth unemployment numbers have flipped, the media is beginning to do its job in showing that the Obama Administration is failing America’s youth.