The Obama Economy and Young People

The President of the United States Barack Obama recently appeared on Late Night with Jimmy Fallon to “Slow Jam the News” and attempted a direct appeal to young people. He wanted young voters to know he is on our side and will veto any potential rate increase on our Stafford Loans.

The Obama Administration is ignoring the reason why students may have difficulty paying their loans back. They don’t have jobs or they are underemployed.

During the period of absolute Democratically controlled Federal Government (2009-2011), the President and former Speaker Nancy Pelosi (D-CA) were more concerned about passing healthcare reform than working with business leaders to create jobs. The Republican-led House of Representatives has passed numerous bills for job creation that have never been heard in Harry Reid’s (D-NV) Democratically-led Senate. They have no plan to repair the economy, and young people are suffering.

Let’s have some real talk here with real facts…  

53% of recent college graduates are unemployed or underemployed. This has more than likely contributed to 5.9 million young adults living at home with their parents. That is far too much wasted potential for an economy to sustain any real growth. Young people are struggling to pay back their loans and move out because of the economy President Obama and progressives have created for them.

Small businesses, the engine of the United States economy, have suffered greatly under this President. Dodd-Frank has crippled the small banking industry. A bill initially designed to end “too big to fail” has made the big banks even bigger and has placed unnecessary regulations and obligations on small banks. These smaller banks do not have the resources to comply with the man hours necessary to meet these obligations. They shutter their doors to expand the power of bigger banks anytime a government forces a business to shut its doors it distorts the market.

It shuts out jobs.

ObamaCare will bring forth an era of big government taxation and spending the likes of which have never been seen on this side of “the pond.” 17 new taxes and the raising of existing taxes to the tune of $1.7 trillion over a decade. These new regulations and taxes will hinder small business from opening and will destabilize the economy more than we have already seen. The job market is an unsure environment with a constant threat of further regulation.

We could be looking at a “lost generation” of college students under a second Obama term. A generation of college students with limited work experience fighting against more experienced workers for fewer positions. The age demographic with the most to lose may be signing their own pink slip for supporting Barack Obama just because we find him “cool.” Our generation has become more interested in making Obama Prom-King-in-Chief as opposed to President.

It’s time we stop treating Obama has a celebrity, and start demanding more from him than late night talk show appearances, basketball brackets, and Lil’ Wayne on his iPod. Our future depends on it.