Youth Misery Index – a combination of unemployment rate, college loan debt and each youth’s share of the national debt – breaks all prior records under Obama:
The index, released Wednesday, was calculated by adding youth unemployment and average college loan debt figures with each person’s share of the national debt. While it has steadily grown over the decades, under Obama the figure has shot up dramatically, from 83.5 in 2009 to 98.6 in 2013.
The index has increased by 18.1 percent since Obama took office, the highest increase under any president, making Obama the worst president for youth economic opportunity, according to the nonprofit that released the figure.
“Young people are suffering under this economy,” said Ashley Pratte, program officer for Young America’s Foundation, which developed the index and calculates it annually using federal statistics. “They’re still living in their parent’s basements, unable to find full-time jobs that pay them what they need in order to pay back their debt.”
Like most people who have a younger generation to talk to, I will tell the young ‘uns that things were much tougher when I was a kid than today. The snow was deeper, the weather colder, the wind sharper, the teachers meaner.
And in many cases I’m right.
But as a guy who grew up under the Carter years, and turned 18 right after Reagan’s election, even I don’t envy the lot of today’s 16-to-25-year-olds.