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  • WOW: Majority of Young Grads Underemployed

    8/23/2012 3:07:17 PM Posted by Ron Meyer

     YMI2

    By Ron Meyer, Young America's Foundation Spokesman

    The Great Youth Depression is only getting bleaker, and the ugly statistics keep piling up for the Obama administration.

    Last year, we learned 85 percent of the 2011 college class moved in with their parents. This year, 53 percent of young Americans are either unemployed or underemployed. And, the Obama administration has the worst summer youth jobs numbers ever recorded--youth unemployment has remained over 16 percent all four years.

    And today, we learned from a PayScale.com survey that of the 63 percent of young Americans who hold bachelor's degrees, less than half of them have jobs requiring a college education. During this recession, youth salaries have dropped 10 percent as young people have been forced to take lower-paying jobs.

    When will the carnage stop?

    Not soon. Yesterday, Stephanie Cutter, a close accomplice to the Obama administration, claimed that the Obama administration's recovery is going better than the Reagan administration's. 

    Spare me.

    Bragging about job creation when the vast majority of young Americans are unemployed or underemployed is insulting--especially when Cutter lies about President Reagan's record.

    Not only did the Reagan recovery produce more than three times the amount of jobs (9.8 million vs. 2.7 million in first 37 months after recession), youth jobs dramatically increased too. From the Reagan recovery to the end of his administration, youth unemployment went from 18.8 percent to 10.7 percent.  

    President Reagan empowered the private sector to build jobs. The Obama administration has only built more barriers to hiring young Americans.

    The Obama administration has added more than $46 billion to the cost of regulations on businesses through bills like ObamaCare. That's the equivalent of more than 1million jobs (with salaries at the national average). The government is spending more than $33,000 per taxpayer and sucking the lifeblood out of our economy.

    It's no wonder young people are miserable.

    Instead of talking up their failed record, the Obama administration needs to promote policies which employ young Americans. This means empowering the private sector and pressuring higher education to produce a more usable product.

    Tuition, taxes, spending, and regulations have skyrocketed under the Obama administration, and if the Obama administration is serious about helping young Americans, they should address those issues now.

    Ron Meyer--age 22--is the spokesman for Young America's Foundation. He's a frequent guest on Fox News and the Sean Hannity Radio Show. Email him at rmeyer@yaf.org. 

    • Readers' Comments

    • When you are faced with an intractable congress that insists that it will not work with you, consider that fact before blaming the joblessness on the president. Get real people!
      Posted by Albert on 08/27/2012
    • Hello Mr. Meyer: I just saw you on Fox News talking about Financial Aid. I understand you take up for the young adults in America, but I wanted to say that people my age, 46, have also been screwed by easy student loans that should have never been given. I had had a near perfect credit rating, then I married what turned out to be a con artist. When I married him, I owned my house outright, owned my vehicle, owned everything I had, and my credit was as good as it could be. He married me, started taking out home equity loans to pay off his debt and buy himself things, and when he ran off in the middle of the night, never to be seen again, it was right at the start of the 2008 financial crash. He could not have left at a more perfect time to destroy me. In short, I lost the house, my vehicle, half my furniture to yard sales, and I had to declare bankruptcy which destroyed what was left of my name. I kept hearing that I should go back to college and finish my degree, so I started the process. I kept thinking it would be easier for me now that I was older and more mature, and I started back to college. It was the most miserable thing for me. I was old enough to be all the other students mother, and I felt like crap every time I drove up on campus. Many professors were biased against me, and before it was over, I simply hit an emotional wall and I just quit, once again, from ever finishing, but not before I had a $18,000 student loan debt. I kept taking out the loans because of other people's encouragement, and I finally dropped out because I just did not have the stamina to push on, anymore. I had lost my whole life, and I kept thinking "I have to go back to college, I have to, I have to.." But, I just could not continue after pushing myself for a while. My nerves, my hopes, my will to live were simply not there anymore to keep me going. I now have upwards of a $19,000 student loan debt that I can't pay back and have nothing to show for it. They keep harassing me for the money, but the money just isn't there. Three times I've applied for the "one year deferment", and all three times I was told I qualified, and then, after two months, they would start harassing me for the money again. The whole deferment thing just never would "stick." They said to apply for the deferment a fourth time, and I said, "No, if it didn't work three times, it isn't going to work the fourth time either...just come after me for it, but you aren't going to get it because I don't have it, won't have it, and there's no hope of ever having it at this point." So, I've lost everything, and now, I have $19,000 of debt sitting on my shoulders that can never be paid back. If they had done a credit check, I could never have gotten that student loan. If they had made me go through the same qualifying process that anyone just getting a used car has to go through, I would not be $19,000 in debt right now. If they had ONLY determined from my situation that I could not pay that money back, I would be so much better off right now. But now, I have nothing to show for it, and I'll be hounded to death, every day, eventually sued, and further ruined, all due to the EASY MONEY fiasco that is, today, the U.S. Student Loan Seedy Pawn Shop way of "helping people." Anyway, you're right when you say they are taking advantage of people, but the worst places who are absolutely extorting this FREE MONEY are the On-line colleges who put fierce sales people on the phone to talk you into their colleges through grants and loans, and they do everything they can to see that you sign up for their college and get those loans that "you deserve." On-line colleges are hard and fast salesmen, doing nothing but selling those loans and grants. It should be illegal, but it isn't, and I think Obama would encourage these salesmen, telling them what a good job they're doing. So, I wanted to say, I agree with you. Thanks for speaking out when others, like me, cannot. Pamela Alexander
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