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  • Life in the Obama Economy

    1/25/2010 4:15:55 PM Posted by Patrick Coyle

    Youth UnemploymentRarely has American youth been so enthralled and supportive of a presidential candidate than as they were with Barack Obama.  Some estimates put their support of him at 70% or more. Numbers aside, the empirical evidence at hand is indisputable: all across college campuses, students rallied for Obama, spoke about him as a messianic figure and adoringly plastered his campaign signs in their dorm rooms and anywhere else that approving schools would permit. 

    But while the President enjoyed overwhelming support from this particular group, it is a bit ironic that his policies are and will be effecting American youth more so than any other--and not for the better. 

    Remember back to last January when the President argued that if his stimulus packages were passed (including the most recent multi-billion dollar jobs stimulus package) that unemployment would not reach more than 8%?  The imperative was convincing, and so not only did a majority of Congress support these actions, but presumably a majority of youth did as well.  But despite unprecedented spending, unemployment now stands at 10%, a staggering number on its own, but nothing when one considers how many people have stopped looking for a job, are underemployed or are unaccounted for in other regards. However, the situation is much worse for young people between the ages of 16 and 24 as the unemployment rate has reached 19% meaning that a much greater percentage are of course are underemployed or have just stopped looking. 

    And yet no number will show this fact: that the current job market is the worst for people just graduating college.  Take my roommate for example, who not only has an impeccable GPA and experience in real estate development that Donald Trump likely didn’t have at our age, but has been turned down for internships (internships, mind you- not full-time jobs) always for the same reason: the company has a long list of unemployed Wall Street veterans with MBA’s and years of experience who are willing to work for the pay of a recent college graduate. 

    These people have families, homes and other obligations to support, and not taking them on would be just silly for any sensible business.  The opportunity to drastically expand the amount of experience a company’s employees has is too great an opportunity to take risk on largely inexperienced and untested college graduates. 

    Beyond unemployment though, which is the most immediate negative effect that the President’s policies are having on our generation, is the staggering and unimaginable amount of debt that we have built up.  While one can consider a number of factors when talking about debt, reasonable estimates put us at 12.3 trillion dollars.  This will fall almost squarely on our generation’s shoulders, either through reduced services, higher taxes, or some combination of the two.  And yet it is we who have received the least from the Obama economy and stimuli so far! 

    Hopefully, America's young people will keep in mind just exactly what Obama did- and did not- accomplish for us. 

    Chadwick Ciocci is a conservative student activist at Fordham University.

     

     

    • Readers' Comments

    • First of all, you should cite where you're getting your information from. Secondly, where do you think the debt started? Hmm, maybe a little thing called the War on Terrorism by glorified Republican George Bush. You republicans rush to criticize our President but neglect to take owndership of the fact that you left him with a country in this stage. I would go on but my time isn't worth uneducated brats liek yourself Chad. Maybe we should have elected McCain, which would have turned in First Lady Palin - her administration would really know how to create jobs and lower the national debt. She might not know her international geography or history but who needs that to run a country. Pathetic.
      Posted by URApatheticrepublican on 01/26/2010
    • First off, As someone who is supposedly so incensed about grammar formatting, you misspelled “like.” But we’ll let that one slide. Now to the facts: Yes, President Bush did run up record deficits in 2008 ($400 billion), but that’s chicken scraps compared to the $1.4 trillion deficit Obama accrued thus far, and the average deficit of $1 trillion Obama plans on racking up over the next 9 years with his current spending proposals. So, please, spare us the sanctimonious chest-thumping about “deficits.” All of the left’s pet programs are dead broke. All of them. Oh, but there’s more. Our Dear Leader Barack plans on spending more on welfare-related programs just in 2010 than President Bush spent on the entire Iraq War. Bottom line: before you sound off in the comments section, try educating yourself. Cheers,
      Posted by Jason Mattera on 01/26/2010
    • Oh, my apologies for my grammar/spelling. When i read idiocratic statements such as this article...my need to respond gets the best of me. As for education, I wish all you conservatives would take a history course or step outside of your box to see what the world is really like. Start thinking beyond yourselves and your state lines and then maybe you would understand what education really is. Education is not what you "northern agreesion" history class teaches you. Nor is it from your bible. You rush to blame the President simply because he is a Democrat but yet you don't take ownership of the fact a Republican put the country in this position. An educated person would look at both sides before pointing fingers. So yes, Obama is running up the country's debt (despite recent news about bringing the deficit down .5 trillion!), however that was necessary to avoid a second depression. Besides buddy, I wouldn't discuss education when your party continuously supports soccer moms that refuse to look beyond their state, a man who has posed nude and his lovely pick-up truck, and my favorite - a nut job that refers to Rockefeller Center as a communist colloboration. Then again, please do continue to be educated by Fox News.
      Posted by URApatheticrepublican on 01/27/2010
    • Dude, you are all over the place. You started off whining about the Bush deficits (until it was pointed out that Obama’s are 4 times higher), and now you’re crying about Fox News, soccer moms, and “northern aggression history"? Chill out, homey. Here’s my advice. Take a nap. Then once your mind is refreshed, reread what you wrote and respond coherently.
      Posted by Jason Mattera on 01/29/2010
    • Jeez, like it's our problem? I think the Canadians are pbaobrly going to be the ones least hit by our protectionism.What's wrong with protectionism? It's what any smart country would do. Oh that's right. I remember. We're the country that elected a Democrat in the middle of a recession.
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