As Obama exits, much of America is left devastated by the outgoing US President’s neo-liberal agenda.
Perhaps no segment of the US populace has been harder hit than the millennial generation.
The Young America’s Foundation has been calculating The Youth Misery Index (YMI) annually.
Under Obama the YMI spiked to a record high of 113.4 in early 2017, up from 109.9 last January, and 83.5 in 2009 when President Obama took office.
Over the course of Obama’s eight years in office the YMI spiked to an alarming 29.9 points, an increase of 36%.
The Index is calculated by adding youth unemployment, student loan debt, and national debt per capita numbers.
“Hope and change”…
Young Americans, a generation that provided critical support to the President in 2008 and 2012, have slogged through the last eight years, and will be chained to its impact on their futures for years to come. The youth unemployment rate is almost 15 percent and the average student in the class of 2016 graduated with a record $37,000 in student loan debt. National debt per capita, a remarkable burden that will fall squarely on the shoulders of millennials, is approaching $62,000.
Young Americans are struggling to find employment, drowning in tens of thousands of dollars of personal debt, and facing the prospect of paying off an $18 trillion national debt.
Barack Obama’s Presidency has been a boon for youth misery and a disaster for millennials.
It’s no wonder young people, a critical componenet of the so-called “Obama Coalition,” failed to support Hillary Clinton at the same rate last November.
“President Obama has done his young supporters a remarkable disservice by running up the national debt at an incredible rate while failing to adequately address the student loan crisis,” said Ron Robinson, president of Young America’s Foundation. “Young people are increasingly conscious of the Left’s inability to offer practical solutions to the problems they face every single day.”
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.