Shut Up and Suffer: Under Obama, Youth Misery Index Hits All-Time HighPosted: January 9, 2014
Jennifer Kabbany writes: A Youth Misery Index that measures young Americans’ woes has skyrocketed under President Barack Obama and hit an all-time high.
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.”
Youth unemployment in 2013 was 16.3 percent, and student loan debt came in at a record-breaking average of $29,400 last year, the foundation points out; what’s more, each person’s share of the roughly $17 trillion dollar national debt stands at its highest level ever: $52,948.
“We are racking up this huge tab,” Pratte said in an interview Wednesday with The College Fix. “Young people have no part of this debt, but it’s the generation that has to deal with it.”
The foundation added 16.3, which represents youth unemployment, with 29.4 – the average 4-year- college loan debt – and 52.9, each person’s national debt burden, to generate its 2013 figure of 98.6…
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