By Ron Meyer
It’s Jobs, Stupid
America’s young people face harsh realities resulting from the Obama administration’s policies. The nation has lost 2.2 million jobs since President Barack Obama took office.
The real problem with government is that it’s like a Mafia don: as it giveth, so it taketh away. Perfect example: The Stimulus promised jobs, but what did it take?
When the government spends money, it takes money away from jobs creators and consumers, oftentimes using it for pet projects. Despite the noblest of intentions, a dollar spent by the government is a dollar less that can be used in the private sector to hire workers or buy products that necessitate more workers.
The Inconvenient Truth on Jobs
Here's what government spending hath wrought (even according to the leftist media):
“[T]een unemployment is still on the rise, now at 25 percent.” — National Public Radio
“The median starting salary for those who graduated between 2006 and 2008 was $30,000. For the 2009 and 2010 grads, it dipped to $27,000.” —Huffington Post
“More than 17 percent of 16-to-24-year-olds who are looking for work can’t find a job.” —National Journal
“85 percent of this year’s graduating class will be forced to move back home.”—Huffington Post
“The employment-to-population ratio for that demographic — the percentage of young people who are working— has plunged to 45 percent.” —The Atlantic
No Jobs, No Money, More Problems
Living at home after college just isn’t cool, but that’s what Obama’s disastrous economic policies have inflicted on America.
The Huffington Post 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.
Historic Youth Unemployment
National Journal reports that more than 17 percent of 16-24-year olds who are looking for work are unable to find a job; this rate is nearing a 30-year high. Youth participation in the job market is at an all-time low. These numbers will continue to tank unless we change course.
Raising Taxes Will Only Make Matters Worse
Despite what Warren Buffet says, the last thing we should do is tax the “super-rich.” We need rich people to spend more money on employees, not on the government.
When employers face higher expenses from taxes, one of the first places they cut are the nonessential and entry-level positions held mainly by young people. Instead of taking a little from the “rich,” we end up taking a lot from young citizens striving to achieve the American Dream.
Leftist lingo calls for a “balanced approach” to taxes, but America already has the highest corporate tax rate in the developed world. Attempting to “punish” corporations will only send more jobs overseas and raise prices for everyday consumers. That’s not balance.
What Must Be Done
To gain jobs and have a real recovery, America needs lower tax rates that instill certainty in the economy and allow our businesses compete against other countries.
The government must also stop taking money out of the private sector with government overspending. Cutting spending will free up more funds for private sector growth, while also cutting our massive debt. The formula is simple: less government = more jobs.
Battle job-killing policies on campus with the Free Enterprise Lecture Series. Bringing speakers like Steve Forbes, John Stossel, Stephen Moore, Larry Kudlow, and John Fund to your college campus can help educate fellow students on the failures of big government. Call (800) USA-1776 for more details.