Double Screw Job For Young People: Record Unemployment & Generational Theft
Young workers, typically defined as those from 16 – 24 years of age are suffering historic unemployment levels. As detailed in a recent article of the New York Post, unemployment among young workers has grown to over 52%, the highest since world war 2.
The most interesting aspect of this scenario isn’t just the unemployment which is awful, but is that we are currently borrowing from this generation’s future to stimulate the economy of today. Yet, the stimulus is doing a horrendous job of providing job growth for the young workers (as well as others). Whether we’re printing money or borrowing money, it all means we’re kicking the can down the road when it comes to dealing with economic problems. When the borrowing and screwing of future generations doesn’t even result in helping out the current situation, you have to wonder what the heck is going on.
America needs a sound economy for both young people and older people. Any stimulus money, if spent, should have gone directly to the long-term creation and sustainability of job growth. The pork project focus of the stimulus bill, the short term boost of cash for clunkers, none of this goes towards long term job growth.
I hope young people continue to wake up to the political realities going on. As for getting by in a terrible economy, I encourage you to check out the following posts: