By Ron Meyer, Young America's Foundation
US Census data shows that nearly one in five young adults (18-29) risk living in poverty. Young adults have the worst unemployment rate of any demographic at nearly 20 percent—the highest it's been since World War II.
President Obama’s policies have turned Generation Y into Generation Lost. More and more college graduates are stuck living at home without a job and without a way to pay off their student loans.
The Obama administration’s big-government, big-spending experiments are failing the future. As the government transfers money out of the private sector and gives it to the union-heavy public sector, young people have less opportunity to find work.
Thanks to the Obama administration, employers’ costs of hiring are skyrocketing. This administration has created nearly 4500 new regulations, and the Washington Examiner estimates that businesses spend $10,500 per employee to comply with current federal regulations.
Plus, employers could soon face a take hike, further adding to their expenses and making it even less likely that they’ll be able to hire new, younger employees.
Big government is creating unemployment for young people now and debt for young people to pay off later. This double-whammy of a burden is unacceptable.