How America’s Stalled Economy is Hurting Our FutureBy: Shawn Hess - May 4, 2012
The sad news about America’s stalled economy is that many young people who would otherwise be saving for retirement, investing in a homes, starting a families, and repaying college debts are unable to do so. Former Chief of Staff of the United States Department of Labor (DOL) and the United States Office of Personnel Management (OPM), Paul T. Conway blames the current US government’s administration and President Obama.
Conway, now president of a not-for-profit organization called Generation Opportunity, seeks to raise America’s awareness of the unemployment and underemployment issue in this country. The organization reaches out to young adults, early career professionals, college students, young mothers and fathers, construction workers, current service men and women, veterans, entrepreneurs, and all Americans who find themselves dissatisfied with the status quo.
Generation Opportunity President Paul T. Conway comments on what’s happening to America’s youth in this poor economy:
“Young Americans continue to suffer the impacts of the President and his administration’s bad economic policies, the resulting poor economy, and the overall lack of opportunity. The administration has failed to listen closely to the needs of young adults – they want meaningful, full-time jobs in a career path of their choice to get on with their own lives.”
“Instead, the Obama administration continues to push a vision that offers less hope and less opportunity. Nearly every week, administration officials appear on college campuses and at gatherings of young Americans to brag about how the federal government is expanding to take over more of their healthcare, education, job training, and other decisions – where is the hope in that?”
Generation Opportunity commissioned a poll help capture the sentiments of young Americans in workplace today. what they discovered is rather startling, but very telling about the economic situations most young people find themselves in today.
Take a look at what they found:
77% of young people ages 18-29 either have or will delay a major life change or purchase due to economic factors:
* 44% delay buying a home
* 28% delay saving for retirement
* 27% delay paying off student loans or other debt
* 27% delay going back to school/getting more education or training
* 26% delay changing jobs/cities
* 23% delay starting a family
* 18% delay getting married.
The poll also collected perception’s on Washington’s leadership:
* Just 31% of 18 – 29 year-olds approve of President Obama’s handling of youth unemployment.
* 69% say the current leadership in Washington fails to reflect the interests of the younger generation.
* 59% of overall Millennials agree the economy grows best when individuals are allowed to create businesses without government interference.
You can find out more about Generation Opportunity and what they are doing to help make changes that will ensure a brighter future for young Americans by visiting their website, or checking them out on Facebook.