We have a lost generation of Americans. We who make up the baby boom generation still talk about the American dream.
For the lost generation, the American dream is now dead.
Who are the lost generation and why is the American dream nothing but a myth to them?
The lost generation is the group we call “Millennials.” They are the people under 30.
Why is their generation lost?
Ironically, it is because of the very liberal policies a majority of these young people championed when they voted for Barack Obama.
Research has shown something very interesting. Millennials are not buying houses, cars or even steak dinners.
The reason why is not a mystery to anyone except for the left.
They are not buying because they cannot buy.
First, among Millennials, the unemployment rate is almost 50%. One out of two of them are unemployed. The Great Obama Depression has destroyed this generation’s wealth before it was created.
The Obama economy has denied so many of them what people need to start their adult lives. A job and a career. For many of them, the best they can now do is find a part time job that works them 29 hours a week.
Those are the lucky ones.
Many of those who are unemployed went through school on student loans. Many of them took those loans out five years ago or longer, when times were good. In 2007, 9 out of 10 recent college graduates found work.
Unfortunately for many of these students, they were enticed with the offer of easy money. They could pay for college and have a good time too with money they could pay back later. The banks did not care whether the students were a good credit risk or not. Liberals had run through provisions that guaranteed these loans. 21 Year olds were graduating from college, $150,000 in debt, having gotten a degree in a field that might only pay them $30,000 a year.
If the students paid their loans back, the banks were happy. If they did not, the government covered the loss and the banks were still happy.
These Millennials are not buying homes and cars because they have one of three problems. Either they do not have a job, and without a job, no one is buying a car, house or steak dinner. Or, they are paying back massive student loans in which case they do not have the spare money for a house, a car or even a nice dinner out. Or, they have defaulted on their student loans and their credit is in the toilet. They might be able to afford the steak dinner but they cannot qualify for a house or a car.
That is not going to change anytime soon.
Thanks to another liberal hero, Bill Clinton, it is very difficult to discharge student loans in bankruptcy. It is possible but very unlikely.
For the Millennials, they are the first generation to look at their parents’ lives and see that their parents had it better than they did.
I wish I could offer the Millennials hope. They overwhelmingly turned out for Obama so they have sowed the wind and now they are reaping the whirlwind. They have a leader who does not want them to be successful like their parents. They have a leader who wants not greatness for America but poverty for Americans.
Perhaps by 2017, things may change. If we can get a conservative Congress in place and can get a Conservative elected in 2016, perhaps then the economy will improve. Perhaps by then some of the Millennials will be able to get jobs.
At some point, we are going to have to deal with the financial chaos liberalism has brought upon us. We are going to have to change the student loan program so these loans are not given out like candy at Halloween. There must be some tie between the loans and the programs students take. Students must be required to show some plan to pay the loans back before they are given.
And at some point, the government is going to have to take a big hit. At some point, the bankruptcy code is going to have to be changed to make these student loans dischargeable so these Millennials can go on with their lives.
We can look at the left and to quote Laurel and Hardy, “This is another fine mess you’ve gotten us into.”
What we must learn is that we cannot allow the left to run any part of government. All that results from is a totally preventable disaster that some Americans have to pay the price for.
The USA is going to take a big hit thanks to what Washington has and is doing to America. Its going to get bloody because the white house has let more and more terrorist into the country with the thought of taking it over. and the real American people are not going to let that happen in the short run....In the long run we will return to the great America we used to be but we have to get rid of the muslim terrorist and commies in the short run so we can become the industrial country we once were....
TRUE, Pat Chadwell, I DO agree, but, ya know, if we ARE going to " get rid " of the #%#@ MUSLIMS, then that will include our PRESIDENT, . . . . . . GASP, . . . . . .
I agreed that this is a disaster for these young adults. I agreed that the best thing we can do them is to find a way to discharge them of the huge college loans payment through bankruptcy or restructuring them like we do with home mortgages and other loans. Unfortunately, these people voted for Obama who is only interested in their vote not the financial mess they caught themselves in. I work at a college and we know that may of the students who register have defaulted on paying what they owed in various fees to the university. As a result we now have a deficit that has grown to some 5.2 million dollars and our president is cutting back on all expenditures except salaries and benefits because he can't fired people who are members of our four unions.
As a father of two members of the "lost generation," my heart bleeds for them! But all is not lost!
True, they got "duped" by Obama and his illusions of "change." It reminds me of 1976 when Jimmy Carter presented a refreshing contrast to the "smoke filled, board rooms" of the Nixon-Ford Legacy!
Young people were touched by Ron Paul's plain spoken rationale. They are open to the "Phoenix theory" of "sometimes the only way to truly fix something" is to "destroy the old and rebuilt from scratch."
We need to treat these children as our most precious commodity! They are our future. We certainly can't stick them with our tab! Furthermore, we need to get rid of these student loan debts, one way or another. It's unfair for kids today to be strangled with overwhelming past due balances for college tuition costs that were severely bloated in the first place!
It continues to amaze me how Bill Clinton has been so glamorized! We who lived in Arkansas when he was governor knew him for what he was: "Walter Mondale with a Southern drawl." He obviously wasn't thinking of our youth when he excluded college tuition from eligible BK discharge debt!
The time is past for deliberation! We must focus on this kids and stop making excuses. They are the countries future.
By 2016 this nation will not recover, the factories have been torn down to clean up the neighborhood, the EPA has closed America, and the Melinials don't care, they are looking for Unemployment Payments, and Welfare Food Stamps to feed their girlfriends children they are the parents of the future, this nation is going down, just as the college professors told them America had to do, for justice in the world. Our kids didn't listen to us, we were too old, we didn't understand, a job involving labor was to hard for them. They wanted the College educated job they thought was waiting for them after graduation. Well America has lost, and I don't believe We the People have the guts to stand up and ReVote. We are down for the count, and will just be story in the history books of the future, about how people tried to rule for themselves, and lost the will to defend their Rights. We are just one more failure in history. Rome/America gone. Does anyone have the guts to throw Obama out of the White House. We know, Obama does not have a legitimate birth certificate, a legitimate Social Security number, Obama is not a citizen of the United States. Obama does not know he is the stooge picked to lead America to failure, What are we going to do? You could have elected Don Cordell for President, and watched America rise out of the ashes of destruction, with Made In America in our stores, made by Americans. There is still time if we remove Obama and elect a born in America President. Lets remember "One nation under God, with Liberty and Justice for all. "4 more years" then what? Total Surrender, Justice for none? Our Police are out of control, ready to destroy us, no more Rights, our churches under attack, freedom of speech now against the law, NO 4th Amendment, hands up on the wall, where is your ID, what are you doing in public, where are we going? To hell in a hand basket, Wake up America, or is it too late?
You know what Judson? I really don't give a damn. These know it all fools are getting exactly what they voted for. They are being brought up as Socialist and haven't learned the simple fact that unless people learn from history they are going to end up repeating it. Can anyone name for me one Socialist country that has ever been successful? The system of Socialism or Communism simply has been a failure everywhere it has been tried. These kids think they should have what ever they want and it should be handed to them by the government. It isn't going to happen.
Hey. You get the Government You vote to elect.
If nothing else probably sooner than later Those same present day College Mushheads will be able to "toke" Their present day economic and Anemic employment situation away in a cloud of "Mary Jane" high octane tobacco smoke. One should see a tremendous increase in the population of Washington State since Washington has legalized "pot".
Hey dude, don't "bogart" that "jay," pass IT over to Me and We will worry about a "job" and/or paying off the "student loan" later. HA!
Welcome to AmeriKa. HA!
If I couldn't laugh I guess I would just have to cry.
I believe IT was Vladimer Lenin Who referred to the above as "Useful Idiots." And Obama probably laughs Himself to sleep every night. HA!
We are all aware that pot-smoking idiots will cause more automobile accidents. Maybe some of them will veer to the left.
Judy. Great reply. Took me a while, but yeah maybe some of "Them" or hopefully ALL of "Them", i.e. the dope smoking fools will "veer" to the Left.
Four more years of This crap.
Unbelieveable, but not hard to imagine, just look at Who is voting.
"With Obama being elected I won't have to worry about My mortgage, I won't have to worry about putting gas in My tank, with Obama Care I won't have to worry abouts My medical I just pays My co-pay and everthing gonna be fine. Its gonna be like "Crimeh (Christmas)."
Stupid, ignorant, easily decieved fools, all looking for that "short cut" in Life. THERE isn't any, at least not from Uncle Sugar Federal Government. "The Government that is big enough to give You everything is also big enough to take IT away." - - Thomas Jefferson.
We will not be able to deal with the financial mess until BH Obama is gone.
Where that 50% number coming from? I just looked up the unemployment rates among various age groups, and the rate among people aged 25–34 is about the same as the overall unemployment rate. Around 1 out of 5 of those aged 18–19 are unemployed, but obviously they don't have college educations. Around 13% of those aged 20–24 are unemployed.
Those are high numbers, but nowhere near the 50% you cited. So I'm confused.
I'm not sure how I feel about the bankruptcy issue. Aren't we about taking responsibility for our choices? And it's the hard-working taxpayers money that's on the line, after all.
BTW, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 extended the no-discharge rules to private loans. It was pretty much a Republican bill, with Paul Ryan, Joe Barton, Tom Coburn, Rick Santorum, Jim Inhofe and Jim DeMint all voting Yea. I don't know how they felt about that provision, of course.
Delilah Bankhead, You believe the Government's numbers? What % would you say have just dropped out of the job market? In other words taking that into account, what do you think the true number might be?