by Kim Reynolds
For all of our history, it has been an article of faith that we in America bestow unto our children and grandchildren a nation that is stronger than the one we were given. Their lives will be better than ours, their future brighter. But lately, that faith has been questioned, that belief called into doubt.
During an economic downturn in which all Americans have been hurt, it is our young people who have suffered the most. The unemployment rate for workers under the age of 25 — part of the so-called millennial generation — is at a staggering 16.4 percent, double the national average. With fewer jobs throughout the country, young job-seekers are finding their opportunities to be extremely limited. As a result, the workforce participation rate for these millennials has cratered. It couldn’t come at a worse time.
Our youth are drowning in debt, and not because of bad decisions or wasteful spending. The cost of attending even a public college has soared, 25 percent in the last four years alone. The amount of debt carried by the average college graduate is at a record high.
The consequences have rippled throughout the entire economy. With enormous debt and few prospects for employment, more and more young people are turning to their parents for help. Over half of parents financially support their adult children. As a result, their nest eggs and retirement funds are melting away.
It is particularly poignant that the worst of the Obama economy has fallen squarely upon the shoulders of the young men and women who rallied to him so enthusiastically in 2008. Unfortunately for them and the country at large, the president’s policies have failed. He has repeatedly increased government spending in an attempt to solve our nation’s problems. That strategy has made the challenges we face much worse than most people realize.
The short-term challenges of unemployment and personal debt pale compared to the threat to the millennial generation that looms on the horizon.
Both parties recognize the fundamental danger the country’s debt poses to our nation’s future, but President Obama’s policies have not reflected that reality. By the end of his first term, his administration will have nearly doubled our public debt.
|||
________________________________
Below watch the National Debt climb. Every second of every day, 24 hours a day, 365 days a year, the National Debt climbs driving the dollars in your wallet to be able to purchase less and less.
 |
||
|
________________________________
|||
What does that debt mean for the millennial generation? Under the president’s budget, by 2080, the per person value of interest payments alone on the national debt will have reached $13,000. But that number is insignificant when compared to each person’s share of the national debt — nearly $300,000.
It is no wonder that most young people no longer believe that programs like Social Security and Medicare will be around when they retire.
If President Obama is re-elected, he will continue to spend more money than we take in and to expand a debt that’s already on the verge of being unsalvageable. That’s a future that should frighten every American, no matter what their generation.
.
.
Kim Reynolds is lieutenant governor of Iowa. Comments: (515) 281-5211
Updated: 25 April 2012 | 12:35 am in Gazette Guest Columnists
Read More: http://thegazette.com/2012/04/25/future-under-obama-should-have-every-american-on-edge/
↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓
PLEASE SCROLL DOWN TO
“FILED UNDER”
CLICK ON ANY OF THOSE TOPICS TO TAKE YOU TO SIMILAR POSTINGS
Posted by Donna Calvin — Saturday, August 25, 2012
Please share this Watchwoman post on Facebook, Linkedin, Google+1, Twitter to all your friends.
Click “Like”, Share, and Leave Comments.
Visit Word Warriorette, a free Yahoo Group, and subscribe to be notified (one email a day) of new posts on Watchwoman.
http://groups.yahoo.com/group/WordWarriorette/
DISCLAIMER: Beliefnet puts paid advertisements on “Watchwoman on the Wall” blog site including some that would never be approved of by the King James Bible, Pastor Ernie Sanders of Doers of the Word Church, What’s Right-What’s Left Radio Ministry, the Voice of the Christian Resistance, Geauga County Right to Life and Donna Calvin. We at www.WRWL.org do not condone, endorse, adhere to, practice or believe in many of the topics and some of what other bloggers promote or their religions at Beliefnet. However, Mrs. Calvin has no control of what Beliefnet displays. She blogs at Beliefnet because she is in the missionary field ministering to true believers posting articles and commentaries informing pro-life, conservative Christians of recent anti-Christian acts and hostile legislation to God’s Agenda and His Will for the world. Hopefully, unbelievers will read these along with the salvation message of Jesus Christ as written in the Gospel of John, Chapter 3, according to the King James Bible, and be saved. A missionary must go into the unbelievers’ territory to reach them. Her mission is to Proclaim Warning to a Nation that has forgotten their Lord and Savior Jesus Christ, the only Truth, the Life, and the only Way to the One God the Father. (Posted 08/25/12)
BEST OF THE BEST ON WATCHWOMAN
“Inspirational. Do you know for sure?”
http://blog.beliefnet.com/watchwomanonthewall/?p=4928
~†~
Read Previous Post
