By Ron Meyer (Young America's Foundation) and Nathan Harden (Novak Fellow, Phillips Foundation)
Published by the Washington Times
President Obama, who rode into the presidency on a wave of youth enthusiasm, has seen his support among young people fall by nearly 30 points since he took office. Young people are disappointed that this administration’s policies failed to live up to the hope-filled rhetoric of 2008, but more pointedly, America’s youth are taking an economic beating.
Not only is unemployment higher among youth than any other major demographic, but record-smashing college debt levels and a looming $15 trillion national debt threaten to financially indenture the millennial generation to the federal government for the rest of our lives.
To visualize this dire situation, Young America's Foundation has created the Youth Misery Index (YMI). Taking a page from a listing made famous by Jimmy Carter, the Youth Misery Index uses simple addition to combine youth unemployment, average graduating student debt (in thousands), and national debt per capita (in thousands).
Youth unemployment is at 17.4 percent - one of the highest levels since World War II. Average graduating student debt has reached a record-breaking $26,300. National debt per capita is $46,900 - the highest ever. Add it up, and the Youth Misery Index comes out to 90.6.
Full Article: *Washington Times*