The “Youth Misery Index” has jumped to a record high under President Obama as students face increasing student debt, now averaging an unprecedented $35,000, and are worried about carrying their share of the rising national debt, about $59,000.
The index, calculated by the Young America’s Foundation, spiked to 109.9 this year, up from 106.5 last January, and 83.5 in 2009 when Obama took office. That is a 32 percent increase in the Misery Index.
It is calculated by adding youth unemployment, student loan debt, and national debt (per capita) numbers, said the conservative youth outreach group that operates the Reagan Ranch.
The latest index followed the release of a YAF poll that found younger Americans, many of whom helped elect and reelect Obama, disgruntled with their situation in life and their future prospects. Their big concerns were education, student loan debt, and jobs, all issues Obama promised to fix. An overwhelming bummer is the 16 percent unemployment rate among younger Americans.
The same poll found students had a libertarian streak. For instance, 35 percent said they prefer free markets to government regulations while only 16 percent prefer government regulations.
Young Americans have slogged through the Obama Presidency and will be chained to its impact on their generation for years to come. The youth unemployment rate exceeds 16 percent and the average student in the class of 2015 graduated with a record $35,000 in student loan debt. National debt per capita, a remarkable burden that will fall squarely on the shoulders of millennials, is just under $59,000.
“President Obama’s tenure has been disastrous for young Americans. They’re ready for change, and conservative ideas offer substantive solutions to the serious challenges they face,” said Ron Robinson, president of Young America’s Foundation.
Paul Bedard, the Washington Examiner’s “Washington Secrets” columnist, can be contacted at [email protected].
